Avion Wealth Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Avion Wealth lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.0% in the second quarter, HoldingsChannel.com reports. The firm owned 2,818 shares of the information services provider’s stock after acquiring an additional 279 shares during the quarter. Avion Wealth’s holdings in Alphabet were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management grew its stake in shares of Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in Alphabet during the fourth quarter worth about $787,000. New Hampshire Trust increased its stake in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Matisse Capital lifted its position in shares of Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after purchasing an additional 2,026 shares in the last quarter. Finally, Berkshire Money Management Inc. purchased a new position in shares of Alphabet in the first quarter valued at approximately $359,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. Roth Mkm reaffirmed a “buy” rating and set a $206.00 target price on shares of Alphabet in a research note on Thursday, August 29th. Morgan Stanley reduced their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group boosted their target price on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Evercore ISI increased their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, June 11th. Finally, Piper Sandler boosted their price objective on Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.81.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock opened at $157.24 on Friday. The company has a market capitalization of $1.94 trillion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $171.48 and its two-hundred day moving average is $164.06. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders sold a total of 178,032 shares of company stock worth $29,854,224 over the last 90 days. Company insiders own 11.55% 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.