McHugh Group LLC Buys Shares of 15,265 Alphabet Inc. (NASDAQ:GOOG)

McHugh Group LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,265 shares of the information services provider’s stock, valued at approximately $2,907,000. Alphabet accounts for about 2.2% of McHugh Group LLC’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds have also made changes to their positions in GOOG. FMR LLC grew its position in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,529 shares of company stock valued at $16,600,078. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $187.14 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The firm has a market cap of $2.29 trillion, a PE ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00. The firm’s 50 day moving average price is $193.12 and its 200 day moving average price is $176.13. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOG shares. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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