Everhart Financial Group Inc. Purchases 3,463 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Everhart Financial Group Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,729 shares of the information services provider’s stock after purchasing an additional 3,463 shares during the period. Alphabet makes up 1.3% of Everhart Financial Group Inc.’s portfolio, making the stock its 13th biggest position. Everhart Financial Group Inc.’s holdings in Alphabet were worth $6,196,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bennett Selby Investments LP grew its position in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its stake in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares during the period. Denver PWM LLC increased its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Finally, Ignite Planners LLC raised its holdings in Alphabet by 0.4% in the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,188 shares of company stock valued at $25,036,883. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 2.6 %

Shares of NASDAQ:GOOGL opened at $168.27 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a 50-day simple moving average of $191.00 and a 200 day simple moving average of $176.06. The company has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Wedbush boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Company 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.