Avior Wealth Management LLC Buys 1,920 Shares of Alphabet Inc. $GOOG

Avior Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.3% in the second quarter, Holdings Channel.com reports. The fund owned 46,306 shares of the information services provider’s stock after purchasing an additional 1,920 shares during the period. Avior Wealth Management LLC’s holdings in Alphabet were worth $8,214,000 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 the stock. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in Alphabet during the first quarter valued at $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet during the 1st quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,866 shares of company stock worth $52,363,610. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. KeyCorp set a $265.00 target price on Alphabet in a research report on Wednesday, September 3rd. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.35.

Alphabet Trading Down 1.1%

GOOG stock opened at $244.36 on Tuesday. The company has a market capitalization of $2.96 trillion, a PE ratio of 26.02, a P/E/G ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm’s 50-day moving average is $217.67 and its 200 day moving average is $185.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Alphabet 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.