MainStreet Investment Advisors LLC Purchases 382 Shares of Alphabet Inc. (NASDAQ:GOOG)

MainStreet Investment Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,427 shares of the information services provider’s stock after purchasing an additional 382 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $1,605,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sterling Financial Planning Inc. raised its holdings in shares of Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares in the last quarter. Arlington Trust Co LLC raised its stake in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares in the last quarter. Harrell Investment Partners LLC raised its stake in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Ethos Financial Group LLC raised its stake in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after acquiring an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its stake in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,815,948.32. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 over the last 90 days. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Oppenheimer upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $203.94.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $160.89 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $160.39 and its two-hundred day moving average is $176.86. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm has a market cap of $1.95 trillion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Alphabet Company 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.