Mainstream Capital Management LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Mainstream Capital Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,342 shares of the information services provider's stock, valued at approximately $1,715,000. Alphabet comprises 1.5% of Mainstream Capital Management LLC's portfolio, making the stock its 20th largest holding.

Several other hedge funds have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc increased its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter worth approximately $41,000. Quarry LP bought a new position in shares of Alphabet during the second quarter worth approximately $53,000. Finally, Summit Securities Group LLC bought a new position in shares of Alphabet during the second quarter worth approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 1.2 %

NASDAQ:GOOGL opened at $175.98 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50-day moving average of $167.23 and a 200-day moving average of $170.40. The company has a market cap of $2.15 trillion, a PE ratio of 23.34, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Wedbush reissued an "outperform" rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Guggenheim lifted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock valued at $30,698,791 over the last three months. Corporate insiders own 11.55% of the company's stock.

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.