EverSource Wealth Advisors LLC Purchases 629 Shares of Alphabet Inc. (NASDAQ:GOOG)

EverSource Wealth Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 58,227 shares of the information services provider’s stock after acquiring an additional 629 shares during the period. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $10,082,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOG. Gilbert & Cook Inc. lifted its position in shares of Alphabet by 15.5% in the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after acquiring an additional 3,924 shares in the last quarter. Concentrum Wealth Management raised its position in Alphabet by 25.0% in the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC grew its holdings in shares of Alphabet by 2.4% in the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after purchasing an additional 154 shares during the last quarter. Congress Wealth Management LLC DE raised its position in Alphabet by 87.0% during the 4th quarter. Congress Wealth Management LLC DE now owns 91,126 shares of the information services provider’s stock valued at $12,842,000 after purchasing an additional 42,402 shares in the last quarter. Finally, Glassman Wealth Services lifted its stake in Alphabet by 1.0% in the fourth quarter. Glassman Wealth Services now owns 25,719 shares of the information services provider’s stock worth $3,625,000 after acquiring an additional 264 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

Shares of GOOG opened at $164.64 on Friday. The firm has a fifty day moving average price of $166.26 and a 200 day moving average price of $167.02. The stock has a market cap of $2.03 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The disclosure for this sale can be found here. Insiders have sold a total of 202,667 shares of company stock valued at $33,964,256 over the last quarter. Company 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.