Alphabet Inc. $GOOGL Shares Bought by SageView Advisory Group LLC

SageView Advisory Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,702 shares of the information services provider’s stock after acquiring an additional 1,622 shares during the quarter. SageView Advisory Group LLC’s holdings in Alphabet were worth $8,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its stake in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in Alphabet in the fourth quarter valued at $3,119,000. Cypress Capital LLC lifted its stake in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $239.63 on Wednesday. The business’s 50-day moving average price is $198.22 and its 200 day moving average price is $176.17. The firm has a market cap of $2.90 trillion, a P/E ratio of 25.52, a PEG ratio of 1.57 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $240.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. DA Davidson raised their target price on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Piper Sandler raised their target price on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. JMP Securities raised their target price on Alphabet from $225.00 to $250.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is owned by insiders.

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.