Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lessened by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 91,219 shares of the information services provider’s stock after selling 3,205 shares during the quarter. Alphabet comprises 2.4% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 9th biggest holding. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $17,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter worth about $39,000. PayPay Securities Corp grew its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Susquehanna lowered their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, Piper Sandler upped their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.75.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,324 shares of company stock valued at $30,153,353. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $159.53 on Wednesday. The stock’s 50 day moving average is $158.38 and its two-hundred day moving average is $175.12. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $1.94 trillion, a PE ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, June 9th. 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.