Mainstay Capital Management LLC ADV Acquires 4,325 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mainstay Capital Management LLC ADV raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 38.7% during the third quarter, Holdings Channel.com reports. The fund owned 15,491 shares of the information services provider’s stock after purchasing an additional 4,325 shares during the period. Alphabet comprises about 0.4% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 13th largest holding. Mainstay Capital Management LLC ADV’s holdings in Alphabet were worth $2,590,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the second quarter worth about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP grew its holdings in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group decreased their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Oppenheimer lowered their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 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. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Trading Up 1.5 %

Shares of NASDAQ:GOOG opened at $166.99 on Friday. The company’s 50-day moving average price is $163.31 and its two-hundred day moving average price is $169.88. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business 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%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.