Sage Mountain Advisors LLC Buys 3,926 Shares of Alphabet Inc. $GOOG

Sage Mountain Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 10.3% during the third quarter, HoldingsChannel reports. The firm owned 42,188 shares of the information services provider’s stock after buying an additional 3,926 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Alphabet were worth $10,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of GOOG. Norges Bank acquired a new position in Alphabet during the 2nd quarter worth $4,298,572,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 73.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock worth $2,388,775,000 after purchasing an additional 4,154,929 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in Alphabet by 17,547.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after purchasing an additional 4,099,366 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Alphabet by 330.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after purchasing an additional 3,062,590 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. HSBC reaffirmed a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Wednesday, December 17th. Finally, Pivotal Research restated a “buy” rating and issued a $400.00 price target (up from $350.00) on shares of Alphabet in a research report on Friday, December 5th. Eight research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $327.13.

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Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. The trade was a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,829 shares of the company’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the sale, the insider owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,187 shares of company stock worth $69,365,318 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.6%

Shares of GOOG stock opened at $333.59 on Tuesday. The stock has a market cap of $4.03 trillion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a fifty day moving average price of $317.29 and a 200 day moving average price of $262.47. Alphabet Inc. has a one year low of $142.66 and a one year high of $341.20.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Trending Headlines about Alphabet

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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