Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Mainsail Asset Management LLC

Mainsail Asset Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 1st quarter, Holdings Channel reports. The firm owned 5,948 shares of the information services provider’s stock after purchasing an additional 115 shares during the quarter. Alphabet accounts for approximately 0.6% of Mainsail Asset Management LLC’s portfolio, making the stock its 19th biggest position. Mainsail Asset Management LLC’s holdings in Alphabet were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC raised its holdings in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after buying an additional 1,376 shares in the last quarter. Harvest Investment Services LLC grew its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after acquiring an additional 138 shares during the last quarter. Fermata Advisors LLC grew its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Finally, jvl associates llc increased its holdings in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock worth $49,474,273 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $202.11 on Monday. The business’s fifty day moving average price is $181.90 and its 200 day moving average price is $174.35. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.52, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the company posted $1.89 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Pivotal Research upped their target price on Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $215.19.

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.