Sagespring Wealth Partners LLC Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Sagespring Wealth Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,898 shares of the information services provider's stock, valued at approximately $7,027,000.

Several other institutional investors have also recently bought and sold shares of the business. GPS Wealth Strategies Group LLC lifted its stake in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after purchasing an additional 1,041 shares during the last quarter. North Forty Two & Co. bought a new position in shares of Alphabet in the 4th quarter valued at $281,000. Requisite Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $927,000. Nordea Investment Management AB grew its position in Alphabet by 10.9% during the 4th quarter. Nordea Investment Management AB now owns 7,184,399 shares of the information services provider's stock worth $1,384,039,000 after acquiring an additional 704,875 shares during the last quarter. Finally, Oriental Harbor Investment Fund acquired a new position in Alphabet in the 3rd quarter worth about $80,656,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOG shares. Rosenblatt Securities reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $208.71.

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Alphabet Stock Down 2.0 %

GOOG traded down $3.18 during trading on Wednesday, hitting $155.50. 16,903,318 shares of the company's stock were exchanged, compared to its average volume of 19,384,837. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market cap of $1.90 trillion, a P/E ratio of 19.32, a PEG ratio of 1.34 and a beta of 1.04. The business's 50 day moving average is $169.17 and its two-hundred day moving average is $177.83. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on 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 owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,663 shares of company stock worth $20,286,447. Corporate insiders own 12.99% of the company's stock.

Alphabet 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.