Sanctuary Advisors LLC Has $152.13 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sanctuary Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 923,329 shares of the information services provider's stock after purchasing an additional 106,890 shares during the period. Alphabet comprises about 1.0% of Sanctuary Advisors LLC's investment portfolio, making the stock its 9th biggest position. Sanctuary Advisors LLC's holdings in Alphabet were worth $152,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boyar Asset Management Inc. increased its holdings in Alphabet by 2.3% in the 3rd quarter. Boyar Asset Management Inc. now owns 9,880 shares of the information services provider's stock valued at $1,639,000 after buying an additional 225 shares during the period. Eaton Financial Holdings Company LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $4,097,000. Fulcrum Equity Management increased its stake in Alphabet by 42.1% in the third quarter. Fulcrum Equity Management now owns 2,924 shares of the information services provider's stock valued at $485,000 after acquiring an additional 867 shares during the period. Anchor Investment Management LLC raised its position in Alphabet by 5.6% in the third quarter. Anchor Investment Management LLC now owns 99,520 shares of the information services provider's stock worth $16,505,000 after purchasing an additional 5,267 shares in the last quarter. Finally, Tudor Financial Inc. bought a new position in Alphabet during the third quarter worth about $216,000. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Robert W. Baird reissued an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. DA Davidson began coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a "neutral" rating and a $170.00 target price for the company. Finally, Truist Financial boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.69.

Alphabet Stock Up 1.5 %

Shares of NASDAQ GOOGL traded up $2.90 during mid-day trading on Friday, reaching $191.41. 62,697,719 shares of the company's stock were exchanged, compared to its average volume of 27,725,518. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $174.55 and a 200 day simple moving average of $171.33. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio is 10.61%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company's stock, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock worth $31,358,687 over the last three months. Corporate insiders own 11.55% of the company's stock.

Alphabet Company 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.