Avitas Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Avitas Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,546 shares of the information services provider’s stock after purchasing an additional 2,432 shares during the quarter. Alphabet makes up approximately 3.1% of Avitas Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Avitas Wealth Management LLC’s holdings in Alphabet were worth $18,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter worth $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet in the first quarter worth $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter worth $206,000. Eudaimonia Advisors LLC grew its stake in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the first quarter worth $281,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 250,539 shares of company stock valued at $35,906,259 in the last ninety days. 0.88% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $156.14 on Thursday. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.92, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $158.56. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $144.65 and a two-hundred day moving average price of $139.39.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the business posted $1.05 EPS. Equities analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets restated an “outperform” rating and issued a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research note on Wednesday. Barclays decreased their price target on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of Alphabet in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.61.

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.