Alphabet Inc. $GOOG is Avalon Trust Co’s 6th Largest Position

Avalon Trust Co lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 383,714 shares of the information services provider’s stock after selling 50,399 shares during the quarter. Alphabet makes up about 5.0% of Avalon Trust Co’s investment portfolio, making the stock its 6th largest position. Avalon Trust Co’s holdings in Alphabet were worth $68,067,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its stake in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC grew its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its stake in Alphabet by 100.0% in the 2nd quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler increased their target price on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Oppenheimer lifted their price objective on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Bank of America boosted their target price on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 221,796 shares of company stock valued at $53,983,001. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.9%

Shares of GOOG opened at $279.12 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.36. The company has a market cap of $3.37 trillion, a P/E ratio of 27.53, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $257.00 and its 200-day simple moving average is $208.69.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

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.