Octavia Wealth Advisors LLC Sells 2,255 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Octavia Wealth Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,600 shares of the information services provider’s stock after selling 2,255 shares during the period. Alphabet makes up 2.7% of Octavia Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Octavia Wealth Advisors LLC’s holdings in Alphabet were worth $15,310,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Capital City Trust Co. FL raised its position in shares of Alphabet by 4.0% in the third quarter. Capital City Trust Co. FL now owns 64,256 shares of the information services provider’s stock valued at $8,409,000 after purchasing an additional 2,443 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in Alphabet by 16.1% in the 3rd quarter. CHURCHILL MANAGEMENT Corp now owns 250,079 shares of the information services provider’s stock valued at $32,725,000 after buying an additional 34,619 shares during the last quarter. Northwest Investment Counselors LLC raised its holdings in Alphabet by 1.7% in the 3rd quarter. Northwest Investment Counselors LLC now owns 16,043 shares of the information services provider’s stock worth $2,099,000 after acquiring an additional 271 shares during the period. Toth Financial Advisory Corp lifted its position in Alphabet by 29.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 66,448 shares of the information services provider’s stock worth $8,695,000 after acquiring an additional 15,282 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in Alphabet during the third quarter valued at about $13,487,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock worth $36,377,482. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $158.26 on Wednesday. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The firm’s 50-day moving average price is $146.69 and its two-hundred day moving average price is $140.93. 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 stock has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the company earned $1.05 EPS. On average, equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. Truist Financial lifted their price objective on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Canaccord Genuity Group increased their price objective on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $185.00 target price (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.71.

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.