MRP Capital Investments LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

MRP Capital Investments LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,634 shares of the information services provider’s stock after selling 552 shares during the period. Alphabet accounts for 5.1% of MRP Capital Investments LLC’s holdings, making the stock its biggest position. MRP Capital Investments LLC’s holdings in Alphabet were worth $5,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Swedbank AB bought a new stake in Alphabet in the 1st quarter valued at $1,378,708,000. Capital International Investors raised its stake in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after buying an additional 2,190,795 shares during the period. Finally, Vima LLC increased its position in Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after buying an additional 2,000,000 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $163.24 on Friday. The stock’s 50-day simple moving average is $166.71 and its 200 day simple moving average is $166.58. The firm has a market capitalization of $2.02 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $182.86.

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.