Mainstay Capital Management LLC ADV Buys 4,325 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mainstay Capital Management LLC ADV lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 38.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,491 shares of the information services provider’s stock after acquiring an additional 4,325 shares during the period. Alphabet accounts for about 0.4% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 13th largest position. Mainstay Capital Management LLC ADV’s holdings in Alphabet were worth $2,590,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC increased its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the second quarter valued at approximately $44,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group reduced their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.5 %

GOOG opened at $166.99 on Friday. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50-day simple moving average is $163.31 and its 200-day simple moving average is $169.88. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.