Sawgrass Asset Management LLC Acquires 94 Shares of Alphabet Inc. (NASDAQ:GOOG)

Sawgrass Asset Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,507 shares of the information services provider’s stock after purchasing an additional 94 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Alphabet were worth $3,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. FMR LLC grew its position in shares of Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Northern Trust Corp grew its holdings in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC lifted its holdings in shares of Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock valued at $3,658,122,000 after purchasing an additional 92,741 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOG traded up $3.15 during trading on Tuesday, reaching $172.98. 21,087,028 shares of the company’s stock were exchanged, compared to its average volume of 22,735,842. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $105.79 and a 1 year high of $176.42. The company’s fifty day simple moving average is $152.74 and its 200-day simple moving average is $144.21. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the company posted $1.17 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOG. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $165.67.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock valued at $40,382,765 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.