EverSource Wealth Advisors LLC Buys 3,465 Shares of Alphabet Inc. (NASDAQ:GOOGL)

EverSource Wealth Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 108,581 shares of the information services provider’s stock after purchasing an additional 3,465 shares during the quarter. Alphabet accounts for about 1.1% of EverSource Wealth Advisors LLC’s portfolio, making the stock its 17th largest position. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $18,008,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. EagleClaw Capital Managment LLC increased its holdings in shares of Alphabet by 6.5% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 17,805 shares of the information services provider’s stock worth $2,953,000 after buying an additional 1,090 shares during the last quarter. Bellwether Advisors LLC increased its holdings in shares of Alphabet by 336.9% in the 3rd quarter. Bellwether Advisors LLC now owns 11,439 shares of the information services provider’s stock worth $1,897,000 after buying an additional 8,821 shares during the last quarter. Grandfield & Dodd LLC increased its holdings in shares of Alphabet by 37.8% in the 3rd quarter. Grandfield & Dodd LLC now owns 81,792 shares of the information services provider’s stock worth $13,565,000 after buying an additional 22,454 shares during the last quarter. Portfolio Design Labs LLC increased its holdings in shares of Alphabet by 8.2% in the 3rd quarter. Portfolio Design Labs LLC now owns 1,696 shares of the information services provider’s stock worth $281,000 after buying an additional 129 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Alphabet by 0.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 136,401 shares of the information services provider’s stock worth $22,622,000 after buying an additional 449 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GOOGL shares. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Loop Capital upped their price objective 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. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Stock Up 1.8 %

Shares of Alphabet stock opened at $174.37 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50-day moving average of $169.10 and a 200 day moving average of $170.29. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a 1 year low of $128.25 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during 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 period last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

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.