Sax Wealth Advisors LLC Has $3.73 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Sax Wealth Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,559 shares of the information services provider’s stock after acquiring an additional 1,073 shares during the period. Sax Wealth Advisors LLC’s holdings in Alphabet were worth $3,725,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC raised its position in Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Jennison Associates LLC lifted its stake in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after acquiring an additional 264,962 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six equities 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 company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $197.55 on Friday. The firm’s 50 day moving average is $185.92 and its 200 day moving average is $174.93. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

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.