Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Main Street Group LTD

Main Street Group LTD increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 821 shares of the information services provider’s stock after purchasing an additional 201 shares during the quarter. Main Street Group LTD’s holdings in Alphabet were worth $156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. GPS Wealth Strategies Group LLC grew its position in shares of Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Harvest Investment Services LLC boosted its stake in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after purchasing an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new stake in shares of Alphabet during the fourth quarter worth about $281,000. SageView Advisory Group LLC raised its position in shares of Alphabet by 140.6% in the fourth quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider’s stock valued at $2,806,000 after buying an additional 8,610 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $927,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GOOG shares. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, UBS Group lowered their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet Trading Up 0.8%

GOOG opened at $160.89 on Wednesday. The firm’s 50 day moving average is $160.39 and its 200-day moving average is $176.86. 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 has a market capitalization of $1.95 trillion, a P/E ratio of 19.99, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analysts’ expectations 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 company posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. 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 0.52%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, 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 completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock worth $30,153,353 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.