Mainsail Financial Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,479 shares of the information services provider’s stock after selling 334 shares during the quarter. Alphabet accounts for approximately 1.0% of Mainsail Financial Group LLC’s investment portfolio, making the stock its 25th largest position. Mainsail Financial Group LLC’s holdings in Alphabet were worth $1,805,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth about $27,000. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC grew its holdings in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $6,870,532.68. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 9.94%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on GOOG shares. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.13.
Check Out Our Latest Report on Alphabet
Alphabet 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.
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