Makena Capital Management LLC Has $15.23 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Makena Capital Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,834 shares of the information services provider’s stock after acquiring an additional 314 shares during the quarter. Alphabet accounts for approximately 3.7% of Makena Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Makena Capital Management LLC’s holdings in Alphabet were worth $15,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Bank of New York Mellon Corp grew its stake in Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. American Century Companies Inc. grew its stake in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Alphabet by 9.1% in the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock valued at $4,237,426,000 after purchasing an additional 1,949,476 shares during the last quarter. International Assets Investment Management LLC grew its stake in Alphabet by 43,005.6% in the third 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 purchasing an additional 18,700,111 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Alphabet by 9.9% during the third quarter. Jennison Associates LLC now owns 18,183,524 shares of the information services provider’s stock worth $3,015,737,000 after acquiring an additional 1,630,556 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.0 %

Shares of GOOGL stock opened at $172.64 on Friday. 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 company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.21 and a beta of 1.01. The stock has a 50 day simple moving average of $169.30 and a 200-day simple moving average of $170.31. Alphabet Inc. has a 1-year low of $129.68 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOGL shares. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, DA Davidson initiated coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is owned by corporate insiders.

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.