Alphabet Inc. $GOOG Shares Sold by Mainsail Asset Management LLC

Mainsail Asset Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,406 shares of the information services provider’s stock after selling 542 shares during the quarter. Alphabet comprises approximately 0.6% of Mainsail Asset Management LLC’s portfolio, making the stock its 20th largest holding. Mainsail Asset Management LLC’s holdings in Alphabet were worth $959,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GOOG. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth approximately $26,000. IFS Advisors LLC lifted its stake in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.9%

Alphabet stock opened at $237.49 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week 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 firm has a 50 day moving average price of $226.97 and a 200 day moving average price of $189.66. The company has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $93.67 billion. During the same quarter last year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.00.

About Alphabet

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.