Alphabet Inc. (NASDAQ:GOOG) Holdings Boosted by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,861 shares of the information services provider’s stock after buying an additional 3,370 shares during the quarter. Alphabet accounts for 0.5% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 10th largest holding. Mainstay Capital Management LLC ADV’s holdings in Alphabet were worth $3,592,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. M&G PLC purchased a new position in shares of Alphabet in the 3rd quarter valued at about $2,240,000. GPS Wealth Strategies Group LLC grew its position in Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after buying an additional 1,041 shares during the period. Coldstream Capital Management Inc. grew its position in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC increased its holdings in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $927,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.5 %

Shares of NASDAQ:GOOG opened at $174.70 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.00. The stock’s 50-day moving average price is $192.98 and its two-hundred day moving average price is $177.64. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results 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 net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

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.