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

Savvy Advisors Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 37.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC raised its stake in Alphabet by 2.4% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 100,510 shares of the information services provider’s stock worth $16,804,000 after acquiring an additional 2,326 shares during the period. Meridian Management Co. increased its stake in shares of Alphabet by 4.5% in the third quarter. Meridian Management Co. now owns 31,701 shares of the information services provider’s stock worth $5,300,000 after purchasing an additional 1,377 shares in the last quarter. Apollon Financial LLC raised its position in shares of Alphabet by 0.8% during the 3rd quarter. Apollon Financial LLC now owns 64,143 shares of the information services provider’s stock valued at $10,724,000 after purchasing an additional 493 shares during the period. WealthPlan Investment Management LLC lifted its stake in shares of Alphabet by 26.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 103,666 shares of the information services provider’s stock valued at $17,332,000 after buying an additional 21,996 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Alphabet by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 43,084 shares of the information services provider’s stock worth $7,203,000 after buying an additional 337 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,752 shares of company stock worth $40,156,829. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOG shares. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

NASDAQ:GOOG opened at $183.32 on Wednesday. The firm has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.28 and a beta of 1.04. 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 business has a 50 day simple moving average of $165.25 and a 200-day simple moving average of $171.44. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) 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 analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

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.