Mainstay Capital Management LLC ADV Acquires 3,370 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mainstay Capital Management LLC ADV increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,861 shares of the information services provider’s stock after purchasing an additional 3,370 shares during the quarter. Alphabet accounts for approximately 0.5% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 10th biggest position. Mainstay Capital Management LLC ADV’s holdings in Alphabet were worth $3,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, FPC Investment Advisory Inc. grew its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $174.70 on Thursday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 21.70, a P/E/G ratio of 1.34 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 1.84. The company’s fifty day moving average price is $192.98 and its 200 day moving average price is $177.64.

Alphabet (NASDAQ:GOOG) last issued 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed 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 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wedbush restated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is currently owned by company 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.