Main Street Financial Solutions LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Main Street Financial Solutions LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,538 shares of the information services provider’s stock after purchasing an additional 659 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Alphabet were worth $2,743,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Schrum Private Wealth Management LLC increased its holdings in shares of Alphabet by 16.2% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 3,048 shares of the information services provider’s stock valued at $505,000 after purchasing an additional 425 shares in the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in Alphabet by 18.5% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 29,612 shares of the information services provider’s stock valued at $4,911,000 after acquiring an additional 4,630 shares during the period. Kovack Advisors Inc. grew its stake in Alphabet by 4.7% in the 3rd quarter. Kovack Advisors Inc. now owns 90,521 shares of the information services provider’s stock valued at $15,013,000 after acquiring an additional 4,037 shares during the period. Parthenon LLC grew its stake in Alphabet by 0.6% in the 3rd quarter. Parthenon LLC now owns 168,252 shares of the information services provider’s stock valued at $27,905,000 after acquiring an additional 1,067 shares during the period. Finally, Arjuna Capital grew its stake in Alphabet by 0.7% in the 3rd quarter. Arjuna Capital now owns 102,574 shares of the information services provider’s stock valued at $17,012,000 after acquiring an additional 706 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $169.23 on Thursday. The firm has a market cap of $2.07 trillion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company’s 50-day moving average price is $168.22 and its 200 day moving average price is $170.34. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm earned $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm lifted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Read Our Latest Report on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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