Alphabet Inc (NASDAQ:GOOG) Holdings Lifted by MainStreet Investment Advisors LLC

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MainStreet Investment Advisors LLC boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,170 shares of the information services provider’s stock after purchasing an additional 73 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Alphabet were worth $1,305,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in shares of Alphabet by 26.3% during the second quarter. Daiwa Securities Group Inc. now owns 35,145 shares of the information services provider’s stock valued at $39,210,000 after buying an additional 7,327 shares during the last quarter. New Jersey Better Educational Savings Trust boosted its position in shares of Alphabet by 4.2% during the second quarter. New Jersey Better Educational Savings Trust now owns 2,500 shares of the information services provider’s stock valued at $2,789,000 after buying an additional 100 shares during the last quarter. BP PLC boosted its position in shares of Alphabet by 11.5% during the second quarter. BP PLC now owns 37,900 shares of the information services provider’s stock valued at $42,280,000 after buying an additional 3,900 shares during the last quarter. First Capital Advisors Group LLC. boosted its position in shares of Alphabet by 7.0% during the second quarter. First Capital Advisors Group LLC. now owns 730 shares of the information services provider’s stock valued at $814,000 after buying an additional 48 shares during the last quarter. Finally, Simplex Trading LLC purchased a new position in shares of Alphabet during the second quarter valued at approximately $16,280,000. 34.18% of the stock is owned by hedge funds and other institutional investors.

In related news, Director John L. Hennessy sold 724 shares of the business’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $1,250.30, for a total transaction of $905,217.20. Following the completion of the transaction, the director now directly owns 442 shares in the company, valued at $552,632.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $1,160.42, for a total value of $11,604,200.00. Following the completion of the transaction, the chief executive officer now owns 546 shares of the company’s stock, valued at $633,589.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,680 shares of company stock valued at $99,664,675. 13.11% of the stock is owned by company insiders.

Shares of NASDAQ:GOOG traded up $30.76 during midday trading on Friday, reaching $1,110.08. 2,029,862 shares of the company traded hands, compared to its average volume of 1,669,302. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. Alphabet Inc has a 12 month low of $960.52 and a 12 month high of $1,273.89. The firm has a market cap of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The business had revenue of $32.66 billion during the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the previous year, the business earned $5.01 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis.

Several research analysts recently issued reports on GOOG shares. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research report on Monday, July 16th. Nomura reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 11th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, September 26th. Finally, Goldman Sachs Group reissued a “$1,186.96” rating on shares of Alphabet in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,311.71.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Why Dividend Stocks May Be Right for You

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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