Avior Wealth Management LLC Buys 6,359 Shares of Alphabet Inc. $GOOGL

Avior Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,595 shares of the information services provider’s stock after acquiring an additional 6,359 shares during the quarter. Avior Wealth Management LLC’s holdings in Alphabet were worth $10,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $4,317,606,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Alphabet by 307.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Finally, Amundi boosted its position in shares of Alphabet by 11.8% in the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $245.69 on Friday. The stock has a market cap of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The business has a 50-day simple moving average of $220.21 and a 200-day simple moving average of $185.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOGL shares. Wolfe Research raised their price objective on Alphabet from $220.00 to $290.00 in a research report on Tuesday. Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Finally, KeyCorp lifted their price target on Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

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.