Savvy Advisors Inc. Buys 2,685 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Savvy Advisors Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,445 shares of the information services provider’s stock after purchasing an additional 2,685 shares during the period. Savvy Advisors Inc.’s holdings in Alphabet were worth $2,064,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP acquired a new position in Alphabet during the second quarter worth $53,000. Finally, Summit Securities Group LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $55,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital increased their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. JMP Securities raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Roth Mkm boosted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Up 0.9 %

Shares of GOOGL stock opened at $169.12 on Wednesday. The company has a market cap of $2.07 trillion, a P/E ratio of 22.43, a PEG ratio of 1.17 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a 50 day simple moving average of $168.03 and a two-hundred day simple moving average of $170.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) 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.