Marco Investment Management LLC Has $16.50 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Marco Investment Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,179 shares of the information services provider’s stock after buying an additional 5,655 shares during the period. Alphabet accounts for 1.4% of Marco Investment Management LLC’s holdings, making the stock its 23rd largest holding. Marco Investment Management LLC’s holdings in Alphabet were worth $16,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new position in shares of Alphabet during the fourth quarter valued at $30,000. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $39,000. Finally, PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last three months. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 2.0 %

Alphabet stock opened at $163.89 on Thursday. Alphabet Inc. has a fifty-two week low of $146.74 and a fifty-two week high of $207.05. The stock has a market cap of $2.00 trillion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm’s 50-day simple moving average is $183.75 and its 200 day simple moving average is $176.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Citigroup lowered their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

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.