Sage Advisors LLC Makes New $234,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Sage Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,283 shares of the information services provider’s stock, valued at approximately $234,000. Alphabet comprises about 0.2% of Sage Advisors LLC’s portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently modified their holdings of the business. Alternative Investment Advisors LLC. bought a new position in shares of Alphabet in the 2nd quarter valued at about $1,950,000. Centaurus Financial Inc. boosted its stake in shares of Alphabet by 23.7% in the 2nd quarter. Centaurus Financial Inc. now owns 50,059 shares of the information services provider’s stock valued at $9,118,000 after purchasing an additional 9,582 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Alphabet by 2.8% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 62,657 shares of the information services provider’s stock valued at $11,413,000 after purchasing an additional 1,705 shares during the last quarter. American Trust boosted its stake in shares of Alphabet by 11.1% in the 2nd quarter. American Trust now owns 9,543 shares of the information services provider’s stock valued at $1,738,000 after purchasing an additional 953 shares during the last quarter. Finally, Summit Wealth Partners LLC bought a new position in shares of Alphabet in the 2nd quarter valued at about $208,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $163.24 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market cap of $2.02 trillion, a PE ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The firm has a 50-day moving average of $161.37 and a 200-day moving average of $167.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock worth $35,644,136 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Evercore ISI cut their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Mizuho increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $200.95.

About Alphabet

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.