Sageworth Trust Co Makes New $355,000 Investment in Alphabet Inc. $GOOGL

Key Points

• Sageworth Trust Co has made a new investment in Alphabet Inc., purchasing 2,014 shares valued at approximately $355,000 during the second quarter.
• Insider sales included Director Kavitark Ram Shriram and CEO Sundar Pichai, who sold 18,566 and 32,500 shares, respectively, indicating a decrease in their ownership stakes.
• Alphabet Inc. reported a quarterly EPS of $2.31, surpassing analysts' expectations, with a total revenue of $96.43 billion for the quarter.

Sageworth Trust Co bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,014 shares of the information services provider's stock, valued at approximately $355,000.

Several other large investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last quarter. Insiders own 11.64% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Westpark Capital boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group increased their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.62.

Alphabet Trading Down 1.3%

NASDAQ GOOGL opened at $241.53 on Friday. The business's 50-day moving average price is $225.37 and its two-hundred day moving average price is $188.04. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The firm has a market capitalization of $2.92 trillion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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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