Sovereign Investment Advisors LLC Invests $456,000 in Alphabet Inc. (NASDAQ:GOOGL)

Sovereign Investment Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,407 shares of the information services provider’s stock, valued at approximately $456,000.

A number of other large investors also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Permanent Capital Management LP purchased a new position in Alphabet during the 4th quarter valued at about $273,000. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC increased its stake in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. Finally, Olistico Wealth LLC lifted its position in shares of Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $162.24 on Friday. The firm has a market cap of $1.98 trillion, a P/E ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The business’s 50-day moving average price is $180.49 and its 200 day moving average price is $176.68. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is owned by 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.