MayTech Global Investments LLC Has $43.85 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

MayTech Global Investments LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.5% during the 3rd quarter, Holdings Channel reports. The fund owned 262,256 shares of the information services provider’s stock after acquiring an additional 42,817 shares during the quarter. Alphabet makes up approximately 5.8% of MayTech Global Investments LLC’s portfolio, making the stock its 6th biggest position. MayTech Global Investments LLC’s holdings in Alphabet were worth $43,847,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Providence Capital Advisors LLC raised its position in Alphabet by 6.5% in the 3rd quarter. Providence Capital Advisors LLC now owns 92,977 shares of the information services provider’s stock valued at $15,545,000 after purchasing an additional 5,644 shares during the last quarter. Stone House Investment Management LLC increased its stake in shares of Alphabet by 4.0% in the third quarter. Stone House Investment Management LLC now owns 2,801 shares of the information services provider’s stock valued at $468,000 after buying an additional 108 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Alphabet in the third quarter valued at about $237,000. CreativeOne Wealth LLC lifted its position in Alphabet by 42.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 19,288 shares of the information services provider’s stock worth $3,225,000 after buying an additional 5,791 shares in the last quarter. Finally, Baupost Group LLC MA grew its holdings in Alphabet by 37.0% during the 3rd quarter. Baupost Group LLC MA now owns 1,465,588 shares of the information services provider’s stock worth $245,032,000 after acquiring an additional 396,000 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOG opened at $170.82 on Thursday. The company has a fifty day simple moving average of $169.71 and a 200 day simple moving average of $171.85. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.09 trillion, a P/E ratio of 22.66, a P/E/G ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.