EverSource Wealth Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,581 shares of the information services provider's stock after acquiring an additional 1,592 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Alphabet were worth $10,775,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Swedbank AB grew its holdings in shares of Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock valued at $1,394,181,000 after buying an additional 51,226 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Alphabet during the third quarter valued at $1,208,000. Peregrine Asset Advisers Inc. grew its holdings in shares of Alphabet by 0.9% during the third quarter. Peregrine Asset Advisers Inc. now owns 11,566 shares of the information services provider's stock valued at $1,934,000 after buying an additional 99 shares in the last quarter. Finally, Jag Capital Management LLC grew its holdings in shares of Alphabet by 1.6% during the third quarter. Jag Capital Management LLC now owns 35,292 shares of the information services provider's stock valued at $5,901,000 after buying an additional 542 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,182 shares of company stock valued at $18,192,354. Insiders own 12.99% of the company's stock.
Alphabet Price Performance
NASDAQ GOOG opened at $165.98 on Wednesday. Alphabet Inc. has a twelve month low of $138.21 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.03. The stock has a 50-day simple moving average of $188.87 and a 200 day simple moving average of $178.08.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.94%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Wedbush reissued an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $209.13.
Check Out Our Latest Analysis on GOOG
Alphabet Profile
(
Free Report)
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.
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