Sage Advisors LLC Has $267,000 Stock Position in Alphabet Inc. $GOOGL

Sage Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,517 shares of the information services provider’s stock after selling 351 shares during the quarter. Sage Advisors LLC’s holdings in Alphabet were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Guardian Wealth Management Inc. lifted its holdings 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 buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth $39,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last ninety days. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOOGL shares. Guggenheim reissued a “buy” rating and issued a $280.00 target price (up previously from $210.00) on shares of Alphabet in a research note on Friday, October 17th. Canaccord Genuity Group increased their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. KeyCorp boosted their price objective on shares of Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Finally, New Street Research upped their target price on shares of Alphabet from $275.00 to $295.00 in a research note on Friday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $263.20.

Alphabet Stock Performance

Shares of GOOGL stock opened at $259.92 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $261.68. The company’s 50 day moving average price is $236.72 and its two-hundred day moving average price is $195.25. The company has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.