Savvy Advisors Inc. Has $5.69 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Savvy Advisors Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 143.6% in the 4th quarter, HoldingsChannel reports. The fund owned 29,850 shares of the information services provider’s stock after purchasing an additional 17,594 shares during the quarter. Alphabet makes up 0.7% of Savvy Advisors Inc.’s investment portfolio, making the stock its 25th largest position. Savvy Advisors Inc.’s holdings in Alphabet were worth $5,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter valued at about $5,166,070,000. Raymond James Financial Inc. acquired a new stake in Alphabet in the 4th quarter worth about $1,551,533,000. GQG Partners LLC boosted its holdings in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. Proficio Capital Partners LLC grew its position in shares of Alphabet by 5,712.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after purchasing an additional 4,292,689 shares in the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of Alphabet by 14.5% during the fourth quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider’s stock worth $6,380,605,000 after purchasing an additional 4,247,379 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Westpark Capital started coverage on Alphabet in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Finally, UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.71.

Alphabet Stock Performance

NASDAQ:GOOG opened at $159.40 on Friday. The stock’s 50-day moving average is $170.50 and its 200-day moving average is $177.89. The stock has a market cap of $1.94 trillion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,797 shares of company stock worth $21,089,470. Insiders own 12.99% of the company’s stock.

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.