Alphabet Inc. $GOOG Shares Acquired by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 102.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,930 shares of the information services provider’s stock after acquiring an additional 19,198 shares during the quarter. Alphabet comprises about 0.3% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 19th biggest holding. Mainstay Capital Management LLC ADV’s holdings in Alphabet were worth $6,728,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $26,000. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley increased its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC increased its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares of the company’s stock, valued at $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9%

Shares of NASDAQ:GOOG opened at $237.49 on Monday. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average price of $226.97 and a 200 day moving average price of $189.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The company’s revenue was up 13.8% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Finally, TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $241.00.

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.