EverSource Wealth Advisors LLC Has $18.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

EverSource Wealth Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,581 shares of the information services provider’s stock after purchasing an additional 3,465 shares during the period. Alphabet accounts for 1.1% of EverSource Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $18,008,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP bought a new position in Alphabet during the third quarter worth $32,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter worth $41,000. Finally, Quarry LP bought a new position in Alphabet during the second quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.8 %

GOOGL opened at $174.37 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.13 trillion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.22 and a beta of 1.01. Alphabet Inc. has a twelve month low of $128.25 and a twelve month high of $191.75. The company’s 50-day moving average price is $169.10 and its two-hundred day moving average price is $170.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. Evercore ISI lifted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 of the company’s stock, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,624 shares of company stock valued at $27,803,730 over the last quarter. Company insiders own 11.55% 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.