MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 8,270 Shares of Alphabet Inc. (NASDAQ:GOOG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,071 shares of the information services provider’s stock after acquiring an additional 8,270 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $45,989,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. increased its position in Alphabet by 2.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 4,118 shares of the information services provider’s stock worth $688,000 after buying an additional 113 shares during the period. Sunflower Bank N.A. grew its stake in shares of Alphabet by 19.4% in the third quarter. Sunflower Bank N.A. now owns 10,533 shares of the information services provider’s stock valued at $1,761,000 after acquiring an additional 1,713 shares in the last quarter. McGuire Investment Group LLC grew its stake in shares of Alphabet by 37.5% in the third quarter. McGuire Investment Group LLC now owns 2,125 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 580 shares in the last quarter. Willner & Heller LLC raised its stake in Alphabet by 27.8% in the 3rd quarter. Willner & Heller LLC now owns 1,522 shares of the information services provider’s stock worth $254,000 after purchasing an additional 331 shares in the last quarter. Finally, JBR Co Financial Management Inc raised its stake in Alphabet by 13.6% in the 3rd quarter. JBR Co Financial Management Inc now owns 6,860 shares of the information services provider’s stock worth $1,147,000 after purchasing an additional 820 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOG opened at $164.52 on Monday. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a 50-day moving average price of $162.81 and a two-hundred day moving average price of $169.37.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. UBS Group lowered their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock valued at $35,644,136 in the last 90 days. 12.99% of the stock is owned by corporate 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.