Alphabet Inc. (NASDAQ:GOOGL) is MainStreet Investment Advisors LLC’s 9th Largest Position

MainStreet Investment Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,219 shares of the information services provider’s stock after selling 3,205 shares during the period. Alphabet comprises approximately 2.4% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 9th largest position. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $17,268,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GOOGL. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth $24,383,677,000. FMR LLC raised its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Northern Trust Corp raised its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Capital Research Global Investors lifted its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.7%

Shares of NASDAQ:GOOGL opened at $159.53 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 firm’s 50-day simple moving average is $158.38 and its 200-day simple moving average is $175.12. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s payout ratio is 9.36%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,690 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This represents a 29.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet 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 owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock valued at $30,153,353 over the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Tuesday, May 6th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Morgan Stanley cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. KeyCorp boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Stifel Nicolaus dropped their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.