Marco Investment Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Marco Investment Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,723 shares of the information services provider’s stock after purchasing an additional 271 shares during the quarter. Marco Investment Management LLC’s holdings in Alphabet were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at $11,600,970,000. FMR LLC grew its holdings in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,209 shares of company stock valued at $36,711,144. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $167.90 on Tuesday. The firm has a market cap of $2.09 trillion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $149.64 and its two-hundred day simple moving average is $142.97.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, equities analysts expect that Alphabet Inc. will post 6.8 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

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.