McCarthy Asset Management Inc. Has $2.52 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

McCarthy Asset Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,189 shares of the information services provider’s stock after selling 757 shares during the period. Alphabet comprises approximately 1.6% of McCarthy Asset Management Inc.’s holdings, making the stock its 13th largest holding. McCarthy Asset Management Inc.’s holdings in Alphabet were worth $2,519,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC grew its stake in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Alphabet by 91.0% in the 2nd quarter. National Bank of Canada FI now owns 7,928,470 shares of the information services provider’s stock valued at $1,450,599,000 after buying an additional 3,777,527 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOOGL shares. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein increased their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. KeyCorp increased their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Stock Down 0.6 %

Alphabet stock opened at $195.42 on Wednesday. The stock has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s fifty day moving average is $172.93 and its two-hundred day moving average is $170.97. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock valued at $31,358,687 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.