Sandy Cove Advisors LLC Has $2.57 Million Stake in Alphabet Inc. $GOOGL

Sandy Cove Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,606 shares of the information services provider’s stock after buying an additional 667 shares during the period. Alphabet accounts for 0.9% of Sandy Cove Advisors LLC’s holdings, making the stock its 22nd largest position. Sandy Cove Advisors LLC’s holdings in Alphabet were worth $2,574,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC grew its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter worth $39,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company’s stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,588 shares of company stock valued at $44,296,554 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.2%

NASDAQ:GOOGL opened at $251.16 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $204.93 and a 200-day moving average of $178.65. The company has a market cap of $3.04 trillion, a PE ratio of 26.75, a PEG ratio of 1.69 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $253.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. BNP Paribas Exane reiterated a “neutral” rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. KeyCorp lifted their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Finally, Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.85.

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.