Mainsail Financial Group LLC Purchases 1,117 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mainsail Financial Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,813 shares of the information services provider’s stock after buying an additional 1,117 shares during the quarter. Alphabet comprises about 0.9% of Mainsail Financial Group LLC’s holdings, making the stock its 25th largest position. Mainsail Financial Group LLC’s holdings in Alphabet were worth $1,600,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Narwhal Capital Management raised its position in shares of Alphabet by 3.5% in the third quarter. Narwhal Capital Management now owns 301,771 shares of the information services provider’s stock valued at $50,453,000 after purchasing an additional 10,240 shares during the period. Leo Wealth LLC raised its holdings in Alphabet by 14.3% during the 3rd quarter. Leo Wealth LLC now owns 22,217 shares of the information services provider’s stock valued at $3,714,000 after acquiring an additional 2,782 shares during the period. Eastern Bank lifted its position in shares of Alphabet by 401.8% during the third quarter. Eastern Bank now owns 80,674 shares of the information services provider’s stock worth $13,488,000 after acquiring an additional 64,597 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Alphabet by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 525,718 shares of the information services provider’s stock worth $87,895,000 after acquiring an additional 22,695 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Alphabet in the third quarter valued at $14,741,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. 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 220,426 shares of company stock worth $35,993,340 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.4 %

GOOG opened at $164.48 on Thursday. The business’s fifty day simple moving average is $163.28 and its 200 day simple moving average is $169.92. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.90.

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.