Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,520 shares of the information services provider’s stock after purchasing an additional 1,576 shares during the period. Main Street Financial Solutions LLC’s holdings in Alphabet were worth $4,669,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $27,000. LSV Asset Management acquired a new position in Alphabet during the 4th quarter worth $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the 4th quarter valued at about $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,663 shares of company stock valued at $20,286,447. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, UBS Group decreased their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.71.

Alphabet Stock Performance

Shares of GOOG opened at $158.68 on Wednesday. The company’s 50 day simple moving average is $169.17 and its 200-day simple moving average is $177.83. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market cap of $1.93 trillion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.