Alphabet Inc. $GOOGL Shares Acquired by Sage Capital Advisors llc
by Doug Wharley · The Cerbat GemSage Capital Advisors llc boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,753 shares of the information services provider’s stock after purchasing an additional 6,992 shares during the quarter. Alphabet makes up approximately 3.1% of Sage Capital Advisors llc’s holdings, making the stock its 5th largest position. Sage Capital Advisors llc’s holdings in Alphabet were worth $12,645,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Trust Co of the South boosted its position in Alphabet by 19.9% during the 2nd quarter. Trust Co of the South now owns 5,417 shares of the information services provider’s stock valued at $955,000 after purchasing an additional 898 shares during the period. Fiduciary Financial Group LLC boosted its position in Alphabet by 9.3% during the 2nd quarter. Fiduciary Financial Group LLC now owns 7,171 shares of the information services provider’s stock worth $1,261,000 after acquiring an additional 608 shares during the period. City Center Advisors LLC acquired a new position in Alphabet during the 2nd quarter worth $237,000. Michael S. Ryan Inc. boosted its position in Alphabet by 2.6% during the 2nd quarter. Michael S. Ryan Inc. now owns 2,910 shares of the information services provider’s stock worth $513,000 after acquiring an additional 73 shares during the period. Finally, McAlister Sweet & Associates Inc. boosted its position in Alphabet by 14.8% during the 2nd quarter. McAlister Sweet & Associates Inc. now owns 33,315 shares of the information services provider’s stock worth $5,871,000 after acquiring an additional 4,285 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on GOOGL shares. Sanford C. Bernstein boosted their price target on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Cantor Fitzgerald boosted their target price on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp boosted their target price on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $221.44.
Read Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $240.80 on Friday. The business has a 50 day moving average price of $201.89 and a 200 day moving average price of $177.48. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $242.25. The company has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 over the last 90 days. Insiders own 11.64% 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.
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