MayTech Global Investments LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

MayTech Global Investments LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 254,499 shares of the information services provider’s stock after acquiring an additional 39,437 shares during the period. Alphabet makes up about 6.1% of MayTech Global Investments LLC’s portfolio, making the stock its 5th largest holding. MayTech Global Investments LLC’s holdings in Alphabet were worth $30,787,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 142.9% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Milestone Wealth LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 361 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the 2nd quarter valued at approximately $46,000. GW&K Investment Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $50,000. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Alphabet during the second quarter valued at $50,000. 27.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Ann Mather sold 220 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,576 shares of company stock valued at $23,425,367. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG traded up $0.39 during trading hours on Monday, reaching $137.33. The company’s stock had a trading volume of 5,690,127 shares, compared to its average volume of 25,851,057. Alphabet Inc. has a 1-year low of $85.57 and a 1-year high of $142.38. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. The company’s 50-day moving average is $134.60 and its two-hundred day moving average is $128.47.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. On average, equities analysts predict that Alphabet Inc. will post 5.74 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Wedbush initiated coverage on Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating for the company. Susquehanna upped their target price on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird raised their price target on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $130.69.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.