Savoie Capital LLC Has $41.88 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Savoie Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.1% during the third quarter, HoldingsChannel.com reports. The firm owned 250,520 shares of the information services provider’s stock after buying an additional 25,000 shares during the period. Alphabet accounts for about 5.1% of Savoie Capital LLC’s investment portfolio, making the stock its 4th largest holding. Savoie Capital LLC’s holdings in Alphabet were worth $41,884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Investment Advisory Services Inc. TX ADV grew its position in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV lifted its holdings in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the last quarter. Montecito Bank & Trust boosted its stake in shares of Alphabet by 0.4% in the 2nd quarter. Montecito Bank & Trust now owns 16,790 shares of the information services provider’s stock valued at $3,080,000 after purchasing an additional 60 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Finally, Johnson Financial Group LLC increased its position in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,789 shares of company stock worth $27,374,143 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on GOOG shares. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $177.10 on Tuesday. The firm has a 50 day moving average of $171.26 and a 200-day moving average of $171.73. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $131.06 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the company posted $1.55 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.