Alphabet Inc. $GOOG Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,638 shares of the information services provider’s stock after purchasing an additional 3,975 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Alphabet were worth $12,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the period. State Street Corp grew its stake in Alphabet by 1.3% in the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock valued at $33,511,477,000 after acquiring an additional 2,428,266 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares in the last quarter. Sanders Capital LLC increased its position in Alphabet by 6.4% during the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after buying an additional 2,117,990 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alphabet by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 31,503,035 shares of the information services provider’s stock worth $5,588,323,000 after purchasing an additional 695,736 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total transaction of $10,637,250.00. Following the sale, the chief executive officer owned 2,211,872 shares of the company’s stock, valued at approximately $723,945,705.60. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. The trade was a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,070,485 shares of company stock valued at $104,428,169 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.0%

Shares of NASDAQ:GOOG opened at $338.53 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $342.29. The company’s fifty day moving average is $320.91 and its two-hundred day moving average is $266.24. The stock has a market capitalization of $4.09 trillion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Ratings Changes

Several research firms have commented on GOOG. Piper Sandler lifted their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, January 21st. Oppenheimer upped their price target on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $330.83.

Read Our Latest Report on GOOG

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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