Mainstream Capital Management LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Mainstream Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 10,342 shares of the information services provider’s stock, valued at approximately $1,715,000. Alphabet makes up 1.5% of Mainstream Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter valued at about $41,000. Quarry LP bought a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth about $55,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, October 24th. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $175.98 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The business has a 50 day moving average of $167.23 and a 200 day moving average of $170.40. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.23 and a beta of 1.03.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 approximately $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,295 shares of company stock worth $30,698,791. 11.55% of the stock is currently owned by company insiders.

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.