Alphabet Inc. (NASDAQ:GOOGL) is Avalon Capital Management’s Largest Position

Avalon Capital Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,631 shares of the information services provider’s stock after buying an additional 17,540 shares during the period. Alphabet comprises about 12.0% of Avalon Capital Management’s holdings, making the stock its largest position. Avalon Capital Management’s holdings in Alphabet were worth $29,225,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Richardson Capital Management LLC increased its stake in Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the last quarter. Armor Investment Advisors LLC increased its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its position in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Barclays raised their target price on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Wolfe Research boosted their price objective on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Check Out Our Latest Analysis on GOOGL

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.82 on Thursday. The company has a 50-day moving average of $173.92 and a 200-day moving average of $155.17. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock valued at $21,143,403 over the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.