Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. increased its holdings in Alphabet Inc. by 23.4% during the first quarter, owning approximately $5.75 million worth of shares after purchasing an additional 6,972 shares.
• Insider trades included John Kent Walker selling 23,820 shares for about $4.64 million, representing a 35.65% decrease in his position.
• Alphabet declared a $0.21 quarterly dividend to be paid on September 15, 2023, with a dividend yield of 0.4% and a diluted earnings per share of $2.31 for the last quarter.

Savvy Advisors Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,822 shares of the information services provider's stock after purchasing an additional 6,972 shares during the quarter. Savvy Advisors Inc.'s holdings in Alphabet were worth $5,753,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ARQ Wealth Advisors LLC boosted its holdings in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after buying an additional 1,400 shares during the period. Independence Bank of Kentucky lifted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC lifted its position in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after acquiring an additional 138 shares in the last quarter. Fermata Advisors LLC boosted its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc grew its position in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock worth $49,474,273. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $197.28 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $181.28 and a two-hundred day moving average price of $174.68. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 21.01, a PEG ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. UBS Group increased their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet 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.

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