Sage Mountain Advisors LLC Buys 5,793 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sage Mountain Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 14.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,541 shares of the information services provider’s stock after purchasing an additional 5,793 shares during the period. Alphabet makes up about 0.6% of Sage Mountain Advisors LLC’s portfolio, making the stock its 28th biggest position. Sage Mountain Advisors LLC’s holdings in Alphabet were worth $8,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Pettinga Financial Advisors LLC lifted its stake in shares of Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after acquiring an additional 201 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Alphabet by 6.8% during the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after acquiring an additional 46,677 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the last quarter. Holistic Planning LLC lifted its stake in shares of Alphabet by 18.2% during the 3rd quarter. Holistic Planning LLC now owns 10,895 shares of the information services provider’s stock worth $1,807,000 after acquiring an additional 1,675 shares during the last quarter. Finally, Provident Trust Co. lifted its stake in shares of Alphabet by 1.1% during the 3rd quarter. Provident Trust Co. now owns 3,476,456 shares of the information services provider’s stock worth $576,570,000 after acquiring an additional 36,190 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Roth Mkm reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wedbush raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Finally, Wolfe Research upped their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.7 %

Shares of NASDAQ:GOOGL opened at $163.99 on Friday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $182.57 and a 200-day moving average price of $176.51.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.