McHugh Group LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

McHugh Group LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,600 shares of the information services provider’s stock, valued at approximately $3,142,000. Alphabet accounts for about 2.3% of McHugh Group LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new position in Alphabet in the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter valued at $39,000. Denver PWM LLC grew its stake in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet in the 3rd quarter worth $66,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOOGL shares. Evercore ISI lifted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Loop Capital lifted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

GOOGL opened at $185.23 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a fifty day moving average price of $192.85 and a 200 day moving average price of $175.14. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The stock has a market cap of $2.27 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.