Avalon Capital Management Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Avalon Capital Management lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 14.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,115 shares of the information services provider’s stock after purchasing an additional 16,170 shares during the quarter. Alphabet comprises approximately 7.8% of Avalon Capital Management’s portfolio, making the stock its 2nd largest holding. Avalon Capital Management’s holdings in Alphabet were worth $19,050,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased 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 during the last quarter. Capital International Investors increased its stake in Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after acquiring an additional 862,550 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at about $4,101,040,000. Charles Schwab Investment Management Inc. grew its stake 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 valued at $4,058,842,000 after buying an additional 481,376 shares during the last quarter. Finally, Sanders Capital LLC grew its stake in shares of Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after buying an additional 813,428 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock worth $24,026,243 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday. Finally, Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Stock Performance

Alphabet stock opened at $183.42 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $174.40 and a 200-day moving average of $155.84. The firm has a market cap of $2.27 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.