M&R Capital Management Inc. Has $5.10 Million Stake in Alphabet Inc (NASDAQ:GOOG)

M&R Capital Management Inc. trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,470 shares of the information services provider’s stock after selling 52 shares during the period. Alphabet comprises about 1.3% of M&R Capital Management Inc.’s portfolio, making the stock its 22nd largest position. M&R Capital Management Inc.’s holdings in Alphabet were worth $5,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Virtus ETF Advisers LLC acquired a new stake in shares of Alphabet during the second quarter worth $38,000. Campbell Wealth Management acquired a new stake in Alphabet in the 2nd quarter valued at $41,000. Prestige Wealth Management Group LLC increased its stake in Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the last quarter. Islay Capital Management LLC increased its stake in Alphabet by 40.0% in the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after buying an additional 10 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its stake in Alphabet by 34.4% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 32.42% of the company’s stock.

Several equities research analysts have issued reports on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Deutsche Bank lifted their price target on shares of Alphabet from $1,700.00 to $1,975.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. KeyCorp initiated coverage on shares of Alphabet in a research note on Monday, September 14th. They issued an “overweight” rating on the stock. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,688.62.

NASDAQ GOOG traded up $20.49 during trading on Thursday, reaching $1,490.09. The company’s stock had a trading volume of 1,778,254 shares, compared to its average volume of 1,969,250. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1,013.51 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 2.10 and a beta of 1.07. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The firm has a 50 day moving average price of $1,540.87 and a 200 day moving average price of $1,406.45.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. On average, equities analysts forecast that Alphabet Inc will post 44.74 EPS for the current fiscal year.

In other news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total value of $89,751.00. Following the completion of the transaction, the director now directly owns 664 shares in the company, valued at approximately $993,244.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.99% of the stock is currently owned by insiders.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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