Savvy Advisors Inc. Makes New $323,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Savvy Advisors Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,309 shares of the information services provider’s stock, valued at approximately $323,000.

Several other hedge funds also recently made changes to their positions in the company. Sonata Capital Group Inc. grew its holdings in shares of Alphabet by 5.1% during the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after buying an additional 180 shares during the last quarter. Oarsman Capital Inc. grew its holdings in shares of Alphabet by 1.8% during the third quarter. Oarsman Capital Inc. now owns 17,839 shares of the information services provider’s stock worth $2,334,000 after buying an additional 323 shares during the last quarter. Brio Consultants LLC grew its holdings in shares of Alphabet by 4.6% during the third quarter. Brio Consultants LLC now owns 6,823 shares of the information services provider’s stock worth $893,000 after buying an additional 303 shares during the last quarter. Lafayette Investments Inc. grew its holdings in shares of Alphabet by 16.4% during the third quarter. Lafayette Investments Inc. now owns 2,031 shares of the information services provider’s stock worth $266,000 after buying an additional 286 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in shares of Alphabet by 4.0% during the third quarter. Portside Wealth Group LLC now owns 31,674 shares of the information services provider’s stock worth $4,144,000 after buying an additional 1,216 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at approximately $391,132,665.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. In the last three months, insiders sold 205,935 shares of company stock valued at $31,178,987. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOGL shares. TD Cowen raised their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Needham & Company LLC raised their price objective on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Rosenblatt Securities raised their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Trading Up 0.5 %

Shares of Alphabet stock opened at $177.85 on Wednesday. The company has a market capitalization of $2.20 trillion, a P/E ratio of 27.28, a P/E/G ratio of 1.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $178.77. The business has a 50 day moving average price of $158.79 and a 200 day moving average price of $145.98.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the company earned $1.17 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%.

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.