Aviance Capital Partners LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Aviance Capital Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 109.9% during the first quarter, Holdings Channel reports. The fund owned 15,240 shares of the information services provider’s stock after buying an additional 7,979 shares during the period. Aviance Capital Partners LLC’s holdings in Alphabet were worth $2,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Advisors LLC boosted its holdings in Alphabet by 13.7% in the 3rd quarter. Legacy Advisors LLC now owns 35,489 shares of the information services provider’s stock worth $4,355,000 after buying an additional 4,270 shares during the period. Lakeshore Financial Planning Inc. purchased a new stake in shares of Alphabet during the third quarter worth $513,000. LaSalle St. Investment Advisors LLC grew its position in shares of Alphabet by 14.8% in the third quarter. LaSalle St. Investment Advisors LLC now owns 2,799 shares of the information services provider’s stock valued at $369,000 after purchasing an additional 360 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Alphabet by 49.7% during the 3rd quarter. Lake Street Advisors Group LLC now owns 79,675 shares of the information services provider’s stock valued at $10,505,000 after purchasing an additional 26,468 shares during the period. Finally, Kinetic Partners Management LP lifted its holdings in Alphabet by 23.3% during the 3rd quarter. Kinetic Partners Management LP now owns 444,100 shares of the information services provider’s stock worth $58,555,000 after purchasing an additional 83,900 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,344 shares of company stock valued at $23,920,676. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $184.49 on Tuesday. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. The company has a fifty day moving average of $174.40 and a 200-day moving average of $155.84. The company has a market capitalization of $2.28 trillion, a P/E ratio of 28.24, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 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.