EverSource Wealth Advisors LLC Purchases 1,592 Shares of Alphabet Inc. (NASDAQ:GOOG)

EverSource Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 56,581 shares of the information services provider’s stock after buying an additional 1,592 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $10,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its stake in shares of Alphabet by 2.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 540,093 shares of the information services provider’s stock valued at $102,855,000 after purchasing an additional 14,375 shares during the period. Saturna Capital Corp bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $273,000. Summit X LLC grew its stake in shares of Alphabet by 1.3% in the 4th quarter. Summit X LLC now owns 11,572 shares of the information services provider’s stock valued at $2,204,000 after purchasing an additional 148 shares during the period. Moors & Cabot Inc. grew its stake in shares of Alphabet by 3.2% in the 4th quarter. Moors & Cabot Inc. now owns 66,889 shares of the information services provider’s stock valued at $12,738,000 after purchasing an additional 2,065 shares during the period. Finally, Prosperity Wealth Management Inc. grew its stake in shares of Alphabet by 9.4% in the 4th quarter. Prosperity Wealth Management Inc. now owns 1,886 shares of the information services provider’s stock valued at $359,000 after purchasing an additional 162 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.1 %

NASDAQ:GOOG opened at $165.98 on Wednesday. The stock’s fifty day moving average price is $188.87 and its two-hundred day moving average price is $178.08. Alphabet Inc. has a 52-week low of $138.21 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Scotiabank upped their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock valued at $18,192,354 in the last 90 days. 12.99% of the stock is owned by company insiders.

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.