Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by New Millennium Group LLC

New Millennium Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 44.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,703 shares of the information services provider’s stock after purchasing an additional 10,715 shares during the period. Alphabet comprises 3.7% of New Millennium Group LLC’s investment portfolio, making the stock its 5th biggest position. New Millennium Group LLC’s holdings in Alphabet were worth $5,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP acquired a new stake in Alphabet during the 3rd quarter valued at $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter valued at $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. The Goldman Sachs Group dropped their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JMP Securities lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Finally, Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.34 on Wednesday. The firm has a market cap of $2.10 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.22 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 firm has a 50 day simple moving average of $168.84 and a 200 day simple moving average of $170.26. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 firm posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet 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.