Savant Capital LLC Grows Position in Alphabet Inc. $GOOGL

Savant Capital LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 150,399 shares of the information services provider’s stock after acquiring an additional 2,671 shares during the period. Savant Capital LLC’s holdings in Alphabet were worth $26,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Nuveen LLC purchased a new stake in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. grew its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Amundi lifted its holdings in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. boosted its stake in Alphabet by 178.3% in the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after purchasing an additional 2,565,400 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $284.28 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $293.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.43 trillion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s fifty day moving average price is $259.16 and its 200-day moving average price is $211.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOGL. Moffett Nathanson upped their price target on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Daiwa Capital Markets upped their target price on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and increased their target price for the stock from $260.00 to $320.00 in a research note on Tuesday. Piper Sandler restated an “overweight” rating and set a $330.00 price target (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Citigroup reaffirmed a “buy” rating and issued a $343.00 price target (up previously from $280.00) on shares of Alphabet in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 189,896 shares of company stock worth $47,653,637. 11.64% of the stock is owned by corporate insiders.

About Alphabet

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.