Savvy Advisors Inc. Acquires 2,456 Shares of Alphabet Inc. $GOOGL

Savvy Advisors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,843 shares of the information services provider’s stock after purchasing an additional 2,456 shares during the quarter. Alphabet makes up about 0.8% of Savvy Advisors Inc.’s investment portfolio, making the stock its 22nd largest position. Savvy Advisors Inc.’s holdings in Alphabet were worth $17,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in Alphabet in the 2nd quarter valued at about $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Alphabet in the third quarter valued at approximately $53,000. Corsicana & Co. bought a new position in Alphabet in the 3rd quarter worth approximately $54,000. Vermillion & White Wealth Management Group LLC raised its position in Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the last quarter. Finally, S&T Bank PA lifted its holdings in Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after buying an additional 99 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. BNP Paribas Exane assumed coverage on Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 target price for the company. Truist Financial set a $385.00 price objective on Alphabet in a research report on Thursday, February 5th. KeyCorp set a $370.00 target price on shares of Alphabet and gave the company an “overweight” rating in a research report on Thursday, February 5th. Robert W. Baird lifted their price target on shares of Alphabet from $310.00 to $350.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company set a $354.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $366.57.

Check Out Our Latest Research Report on GOOGL

Alphabet Trading Up 0.7%

Shares of NASDAQ GOOGL opened at $313.00 on Thursday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $320.80 and its 200-day moving average is $281.27.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s payout ratio is 7.77%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 47,574 shares of Alphabet stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the transaction, the insider owned 13,227 shares of the company’s stock, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,112,482 shares of company stock worth $119,145,289. Company insiders own 11.64% of the company’s stock.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Featured Articles

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.