Mainstream Capital Management LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Mainstream Capital Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,342 shares of the information services provider’s stock, valued at approximately $1,715,000. Alphabet accounts for about 1.5% of Mainstream Capital Management LLC’s investment portfolio, making the stock its 20th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the last quarter. Quent Capital LLC boosted its holdings in Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares in the last quarter. Portland Global Advisors LLC grew its stake in shares of Alphabet by 4.2% in the first quarter. Portland Global Advisors LLC now owns 4,995 shares of the information services provider’s stock worth $754,000 after acquiring an additional 200 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Alphabet by 5.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 6,576,002 shares of the information services provider’s stock worth $992,516,000 after acquiring an additional 337,795 shares during the last quarter. Finally, Interchange Capital Partners LLC increased its holdings in shares of Alphabet by 3.1% during the first quarter. Interchange Capital Partners LLC now owns 13,104 shares of the information services provider’s stock valued at $1,975,000 after acquiring an additional 395 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.2 %

Shares of GOOGL stock opened at $175.98 on Thursday. The stock has a market cap of $2.15 trillion, a P/E ratio of 23.34, a PEG ratio of 1.23 and a beta of 1.03. The company’s fifty day simple moving average is $167.23 and its two-hundred day simple moving average is $170.40. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Mizuho boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock valued at $30,698,791 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Company 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.