MainStreet Investment Advisors LLC Sells 3,759 Shares of Alphabet Inc. $GOOGL

MainStreet Investment Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the second quarter, HoldingsChannel.com reports. The firm owned 84,898 shares of the information services provider’s stock after selling 3,759 shares during the period. Alphabet accounts for about 2.1% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 9th largest holding. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $14,962,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Gimbal Financial raised its stake in shares of Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co increased its stake in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the period. Silver Coast Investments LLC raised its position in Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its stake in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the period. Finally, Bfsg LLC boosted its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a report on Wednesday, October 22nd. Arete increased their price objective on Alphabet from $220.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. BNP Paribas Exane assumed coverage on Alphabet in a report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.84.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 225,072 shares of company stock worth $58,074,027. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $320.02 on Friday. The stock has a 50-day simple moving average of $269.25 and a 200 day simple moving average of $219.18. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.