Sandy Cove Advisors LLC Purchases 2,563 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sandy Cove Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,611 shares of the information services provider's stock after buying an additional 2,563 shares during the quarter. Alphabet comprises approximately 1.0% of Sandy Cove Advisors LLC's portfolio, making the stock its 19th largest position. Sandy Cove Advisors LLC's holdings in Alphabet were worth $2,577,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Conrad Siegel Investment Advisors Inc. raised its holdings in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after buying an additional 53 shares during the last quarter. Denver PWM LLC grew its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after buying an additional 57 shares during the period. Ignite Planners LLC grew its position in Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider's stock worth $2,892,000 after buying an additional 57 shares during the period. Fermata Advisors LLC grew its position in Alphabet by 0.8% during the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider's stock worth $1,407,000 after buying an additional 57 shares during the period. Finally, Winch Advisory Services LLC grew its position in Alphabet by 1.3% during the fourth quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider's stock worth $830,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock traded up $1.02 during trading hours on Wednesday, reaching $199.07. 9,974,715 shares of the stock traded hands, compared to its average volume of 22,481,398. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The business has a fifty day moving average price of $185.07 and a 200 day moving average price of $173.38. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.44 trillion, a PE ratio of 26.43, a PEG ratio of 1.26 and a beta of 0.98.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet's dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Loop Capital raised their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald cut their target price on shares of Alphabet from $215.00 to $210.00 and set a "neutral" rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $208.67.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company's stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company's stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is currently owned by company insiders.

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.