MIG Capital LLC Sells 8,407 Shares of Alphabet Inc. $GOOG

MIG Capital LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,881 shares of the information services provider’s stock after selling 8,407 shares during the quarter. Alphabet comprises about 3.7% of MIG Capital LLC’s portfolio, making the stock its 11th biggest holding. MIG Capital LLC’s holdings in Alphabet were worth $35,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC grew its position in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $2,622,943,000. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. grew its holdings in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Laurel Wealth Advisors LLC increased its position in Alphabet by 17,547.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after buying an additional 4,099,366 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 227,952 shares of company stock valued at $58,896,009. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $323.64 on Wednesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50-day simple moving average is $265.76 and its 200 day simple moving average is $217.01. The firm has a market cap of $3.91 trillion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GOOG shares. DA Davidson set a $300.00 target price on Alphabet in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. HSBC reiterated a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Barclays upped their price target on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $304.62.

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.