Mmbg Investment Advisors CO. Has $49.91 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mmbg Investment Advisors CO. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322,778 shares of the information services provider’s stock after buying an additional 7,256 shares during the period. Alphabet makes up about 5.6% of Mmbg Investment Advisors CO.’s investment portfolio, making the stock its 4th largest position. Mmbg Investment Advisors CO.’s holdings in Alphabet were worth $49,914,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. Augustine Asset Management Inc. lifted its stake in shares of Alphabet by 3.6% in the first quarter. Augustine Asset Management Inc. now owns 2,730 shares of the information services provider’s stock valued at $422,000 after buying an additional 96 shares during the period. Guerra Advisors Inc lifted its position in Alphabet by 25.4% in the first quarter. Guerra Advisors Inc now owns 13,881 shares of the information services provider’s stock worth $2,147,000 after purchasing an additional 2,813 shares during the period. Citizens National Bank Trust Department increased its holdings in Alphabet by 26.8% in the 1st quarter. Citizens National Bank Trust Department now owns 1,737 shares of the information services provider’s stock valued at $269,000 after buying an additional 367 shares during the period. Stonebridge Financial Group LLC raised its stake in shares of Alphabet by 22.3% in the 1st quarter. Stonebridge Financial Group LLC now owns 37,541 shares of the information services provider’s stock valued at $5,805,000 after buying an additional 6,855 shares in the last quarter. Finally, Skylands Capital LLC raised its position in Alphabet by 19.6% in the first quarter. Skylands Capital LLC now owns 185,885 shares of the information services provider’s stock worth $28,745,000 after purchasing an additional 30,460 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOGL opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a 50 day moving average of $168.70 and a 200-day moving average of $173.97. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GOOGL shares. Tigress Financial lifted their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Stifel Nicolaus cut their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, April 25th. Finally, Jefferies Financial Group reduced their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.95.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by company insiders.

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.