Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Avaii Wealth Management LLC

Avaii Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,957 shares of the information services provider’s stock after purchasing an additional 5,077 shares during the period. Alphabet comprises 2.9% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 10th largest position. Avaii Wealth Management LLC’s holdings in Alphabet were worth $5,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Essex Financial Services Inc. increased its stake in shares of Alphabet by 10.4% during the second quarter. Essex Financial Services Inc. now owns 120,917 shares of the information services provider’s stock valued at $22,025,000 after buying an additional 11,349 shares during the period. Turtle Creek Wealth Advisors LLC increased its stake in shares of Alphabet by 24.4% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 18,515 shares of the information services provider’s stock valued at $3,373,000 after buying an additional 3,635 shares during the period. Dover Advisors LLC increased its stake in shares of Alphabet by 6.1% during the second quarter. Dover Advisors LLC now owns 22,746 shares of the information services provider’s stock valued at $4,143,000 after buying an additional 1,313 shares during the period. Elk River Wealth Management LLC increased its stake in shares of Alphabet by 0.8% during the second quarter. Elk River Wealth Management LLC now owns 98,075 shares of the information services provider’s stock valued at $17,864,000 after buying an additional 795 shares during the period. Finally, Cook Wealth LLC increased its stake in shares of Alphabet by 103.8% during the second quarter. Cook Wealth LLC now owns 11,389 shares of the information services provider’s stock valued at $1,905,000 after buying an additional 5,800 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.8 %

Shares of GOOGL opened at $157.46 on Friday. The business’s 50 day moving average is $167.46 and its 200 day moving average is $164.49. The company has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the business posted $1.44 EPS. Research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Tuesday, July 30th. Roth Mkm restated a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Citigroup lifted their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. DA Davidson began coverage on Alphabet in a research report on Tuesday. They set a “neutral” rating and a $170.00 price target on the stock. Finally, Wolfe Research began coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is currently owned by company insiders.

About Alphabet

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.