Sargent Investment Group LLC Has $5.50 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sargent Investment Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,889 shares of the information services provider’s stock after buying an additional 2,235 shares during the quarter. Alphabet accounts for about 1.0% of Sargent Investment Group LLC’s portfolio, making the stock its 27th largest position. Sargent Investment Group LLC’s holdings in Alphabet were worth $5,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter worth about $40,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% in 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 in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $44,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.7 %

Shares of NASDAQ GOOG opened at $177.35 on Friday. The stock has a 50-day moving average price of $166.20 and a two-hundred day moving average price of $171.57. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOG. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.56.

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.