Sagespring Wealth Partners LLC Acquires Shares of 36,898 Alphabet Inc. (NASDAQ:GOOG)

Sagespring Wealth Partners LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,898 shares of the information services provider’s stock, valued at approximately $7,027,000.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter worth about $27,000. LSV Asset Management purchased a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter worth $43,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock valued at $21,089,470 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.6 %

Alphabet stock opened at $159.40 on Friday. The stock has a market cap of $1.94 trillion, a P/E ratio of 19.80, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm’s fifty day moving average price is $170.50 and its 200-day moving average price is $177.89. 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 (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.71.

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.