Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,345 shares of the information services provider’s stock after purchasing an additional 130 shares during the period. Alphabet comprises 1.6% of Sovereign Financial Group Inc.’s holdings, making the stock its 12th biggest holding. Sovereign Financial Group Inc.’s holdings in Alphabet were worth $7,069,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Capstone Wealth Management Group LLC increased its position in shares of Alphabet by 53.7% in the fourth quarter. Capstone Wealth Management Group LLC now owns 19,693 shares of the information services provider’s stock worth $3,728,000 after acquiring an additional 6,882 shares in the last quarter. 626 Financial LLC increased its position in shares of Alphabet by 0.5% in the fourth quarter. 626 Financial LLC now owns 26,949 shares of the information services provider’s stock worth $5,101,000 after acquiring an additional 131 shares in the last quarter. Fiduciary Financial Group LLC increased its position in shares of Alphabet by 3.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 5,741 shares of the information services provider’s stock worth $1,103,000 after acquiring an additional 202 shares in the last quarter. KWB Wealth purchased a new position in shares of Alphabet in the fourth quarter worth approximately $365,000. Finally, Quad Cities Investment Group LLC increased its position in shares of Alphabet by 3.8% in the fourth quarter. Quad Cities Investment Group LLC now owns 4,331 shares of the information services provider’s stock worth $820,000 after acquiring an additional 157 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.1 %

Shares of GOOGL opened at $195.55 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $183.45 and a two-hundred day moving average price of $173.04. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. KeyCorp raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $208.15.

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.