EverSource Wealth Advisors LLC Has $10.08 Million Position in Alphabet Inc. (NASDAQ:GOOG)

EverSource Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 58,227 shares of the information services provider’s stock after buying an additional 629 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $10,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GOOG. Gilbert & Cook Inc. increased its position in Alphabet by 15.5% in the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after purchasing an additional 3,924 shares during the period. Concentrum Wealth Management raised its holdings in shares of Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after acquiring an additional 3,283 shares during the period. Aveo Capital Partners LLC raised 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 valued at $937,000 after purchasing an additional 154 shares during the last quarter. Congress Wealth Management LLC DE lifted 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 worth $12,842,000 after buying an additional 42,402 shares in the last quarter. Finally, Glassman Wealth Services boosted its holdings in shares of Alphabet by 1.0% in the 4th quarter. Glassman Wealth Services now owns 25,719 shares of the information services provider’s stock valued at $3,625,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $164.64 on Friday. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $166.26 and its 200-day moving average price is $167.02. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $33,964,256 over the last ninety days. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOG shares. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

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.