New York Life Investment Management LLC Has $149.97 Million Stock Holdings in Alphabet Inc. $GOOGL

New York Life Investment Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 850,979 shares of the information services provider’s stock after acquiring an additional 6,168 shares during the period. Alphabet accounts for approximately 1.4% of New York Life Investment Management LLC’s holdings, making the stock its 11th largest position. New York Life Investment Management LLC’s holdings in Alphabet were worth $149,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gimbal Financial raised its holdings in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co increased its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC raised its stake in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC lifted its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Finally, Financial Council LLC boosted its position in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup reissued a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up previously from $285.00) on shares of Alphabet in a report on Thursday, October 30th. President Capital boosted their target price on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $320.00 price target (up from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, New Street Research lifted their price objective on Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Stock Down 2.1%

NASDAQ GOOGL opened at $278.83 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The stock has a market cap of $3.37 trillion, a PE ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50-day simple moving average of $251.23 and a 200 day simple moving average of $204.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 over the last ninety days. 11.64% of the stock is owned by company insiders.

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.