Mainsail Financial Group LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Mainsail Financial Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,465 shares of the information services provider’s stock after purchasing an additional 133 shares during the period. Alphabet makes up 0.9% of Mainsail Financial Group LLC’s portfolio, making the stock its 29th largest holding. Mainsail Financial Group LLC’s holdings in Alphabet were worth $1,289,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Veracity Capital LLC boosted its position in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky boosted its position in Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the period. Park Avenue Securities LLC boosted its position in Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the period. Strategic Blueprint LLC boosted its position in Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after buying an additional 4,044 shares during the period. Finally, Investment Partners LTD. boosted its position in Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after buying an additional 410 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.4 %

NASDAQ GOOG opened at $187.39 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.32 trillion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a 50 day moving average price of $175.99 and a 200 day moving average price of $156.79. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.62.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 146,288 shares of company stock worth $25,345,053 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. 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 research report on Friday, June 28th. Finally, Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.86.

About Alphabet

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.