Alphabet Inc. (NASDAQ:GOOGL) is Sawgrass Asset Management LLC's 3rd Largest Position

Sawgrass Asset Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 257,395 shares of the information services provider's stock after purchasing an additional 54,734 shares during the quarter. Alphabet accounts for approximately 5.1% of Sawgrass Asset Management LLC's holdings, making the stock its 3rd largest position. Sawgrass Asset Management LLC's holdings in Alphabet were worth $46,884,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. NorthLanding Financial Partners LLC acquired a new position in shares of Alphabet during the second quarter valued at approximately $217,000. Pure Financial Advisors LLC raised its stake in shares of Alphabet by 23.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 19,420 shares of the information services provider's stock worth $3,537,000 after buying an additional 3,642 shares in the last quarter. TriaGen Wealth Management LLC raised its stake in shares of Alphabet by 2.0% in the 2nd quarter. TriaGen Wealth Management LLC now owns 5,393 shares of the information services provider's stock worth $982,000 after buying an additional 107 shares in the last quarter. Dash Acquisitions Inc. lifted its holdings in shares of Alphabet by 15.9% in the second quarter. Dash Acquisitions Inc. now owns 9,589 shares of the information services provider's stock valued at $1,736,000 after buying an additional 1,313 shares during the period. Finally, Marino Stram & Associates LLC boosted its stake in Alphabet by 1.3% during the second quarter. Marino Stram & Associates LLC now owns 10,599 shares of the information services provider's stock valued at $1,931,000 after buying an additional 139 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. Morgan Stanley upped their price target on Alphabet from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, August 14th. Citigroup raised their price objective on shares of Alphabet from $190.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an "outperform" rating and a $240.00 target price on the stock. Finally, Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the stock a "positive" rating in a research report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $203.74.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company's stock, valued at approximately $394,746,532.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company's stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold a total of 156,565 shares of company stock valued at $26,823,893 over the last ninety days. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock traded down $2.05 during trading on Thursday, reaching $163.80. The company's stock had a trading volume of 22,476,791 shares, compared to its average volume of 28,050,236. The stock has a 50-day moving average price of $174.96 and a two-hundred day moving average price of $162.89. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the business posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet's dividend payout ratio is 12.27%.

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.