Riversedge Advisors LLC Has $1.63 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Riversedge Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,631 shares of the information services provider’s stock after buying an additional 213 shares during the period. Riversedge Advisors LLC’s holdings in Alphabet were worth $1,634,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Lantz Financial LLC grew its holdings in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after purchasing an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC bought a new position in shares of Alphabet during the second quarter worth $218,000. Vista Finance LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at $229,000. Wedbush Securities Inc. raised its stake in Alphabet by 2.6% during the 2nd quarter. Wedbush Securities Inc. now owns 212,308 shares of the information services provider’s stock worth $38,672,000 after buying an additional 5,458 shares during the period. Finally, Choreo LLC lifted its holdings in Alphabet by 128.0% during the second quarter. Choreo LLC now owns 263,144 shares of the information services provider’s stock worth $48,138,000 after acquiring an additional 147,747 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Evercore ISI raised their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush boosted their price objective 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. Finally, Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.15.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $198.05 on Wednesday. The company has a 50-day simple moving average of $184.74 and a two-hundred day simple moving average of $173.33. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.