Everhart Financial Group Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Everhart Financial Group Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,729 shares of the information services provider’s stock after buying an additional 3,463 shares during the period. Alphabet makes up about 1.3% of Everhart Financial Group Inc.’s holdings, making the stock its 13th biggest holding. Everhart Financial Group Inc.’s holdings in Alphabet were worth $6,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. State Street Corp raised its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 2.6 %

Alphabet stock opened at $168.27 on Friday. The company has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The firm’s fifty day simple moving average is $191.00 and its 200-day simple moving average is $176.06. 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:GOOGL) last posted its 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%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wolfe Research upped their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,188 shares of company stock valued at $25,036,883 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

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.