Savvy Advisors Inc. Acquires 3,322 Shares of Alphabet Inc. (NASDAQ:GOOG)

13 Nov 2024, 08:48 by Scott Moore · The Cerbat Gem

Savvy Advisors Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 37.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,256 shares of the information services provider’s stock after buying an additional 3,322 shares during the quarter. Savvy Advisors Inc.’s holdings in Alphabet were worth $2,049,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GOOG. M&G PLC purchased a new stake in Alphabet during the third quarter worth $2,240,000. Colonial River Wealth Management LLC lifted its stake in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after purchasing an additional 5,892 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares during the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in Alphabet by 5.4% in the third quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after purchasing an additional 8,304 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of GOOG opened at $183.32 on Wednesday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The stock has a market cap of $2.24 trillion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The firm’s fifty day moving average is $165.25 and its two-hundred day moving average is $171.44. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

View Our Latest Report on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,752 shares of company stock valued at $40,156,829. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

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