Mainsail Financial Group LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Mainsail Financial Group LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,479 shares of the information services provider’s stock after selling 334 shares during the quarter. Alphabet comprises approximately 1.0% of Mainsail Financial Group LLC’s holdings, making the stock its 25th largest holding. Mainsail Financial Group LLC’s holdings in Alphabet were worth $1,805,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Joel Isaacson & Co. LLC grew its holdings in shares of Alphabet by 1.8% during the 4th quarter. Joel Isaacson & Co. LLC now owns 494,220 shares of the information services provider’s stock worth $94,119,000 after purchasing an additional 8,931 shares during the period. Northstar Group Inc. boosted its holdings in Alphabet by 1.2% in the 4th quarter. Northstar Group Inc. now owns 102,418 shares of the information services provider’s stock worth $19,504,000 after acquiring an additional 1,243 shares during the period. Arcataur Capital Management LLC boosted its holdings in Alphabet by 6.1% in the 4th quarter. Arcataur Capital Management LLC now owns 10,251 shares of the information services provider’s stock worth $1,952,000 after acquiring an additional 585 shares during the period. Dock Street Asset Management Inc. boosted its holdings in Alphabet by 3.3% in the 4th quarter. Dock Street Asset Management Inc. now owns 222,749 shares of the information services provider’s stock worth $42,420,000 after acquiring an additional 7,124 shares during the period. Finally, Realta Investment Advisors boosted its holdings in Alphabet by 3.2% in the 4th quarter. Realta Investment Advisors now owns 31,602 shares of the information services provider’s stock worth $6,103,000 after acquiring an additional 990 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wedbush restated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $187.07 on Wednesday. The business’s fifty day moving average price is $193.42 and its 200 day moving average price is $176.27. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The stock has a market capitalization of $2.29 trillion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by insiders.

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.