Sage Mountain Advisors LLC Increases Stock Position in Alphabet Inc. $GOOGL

Sage Mountain Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,205 shares of the information services provider’s stock after purchasing an additional 4,043 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Alphabet were worth $8,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC increased its stake 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 acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Citizens Jmp increased their price target on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC raised their price objective on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $303.09.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 190,896 shares of company stock valued at $45,092,175. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $277.54 on Wednesday. The company has a 50 day moving average price of $246.91 and a 200-day moving average price of $202.13. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The firm has a market capitalization of $3.36 trillion, a PE ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Company 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.