Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,603 shares of the information services provider’s stock after selling 12,703 shares during the quarter. Alphabet comprises about 2.7% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 7th largest position. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $22,332,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the fourth quarter valued at about $30,000. Finally, Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at about $41,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock worth $29,762,606. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOGL shares. Guggenheim boosted their target price on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, August 30th. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Monday, September 16th. Loop Capital reissued a “hold” rating and set a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Finally, Cantor Fitzgerald started coverage on shares of Alphabet in a research report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $163.59 on Friday. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The business has a 50 day moving average price of $164.72 and a two-hundred day moving average price of $165.55. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the business earned $1.44 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.