Alphabet Inc. $GOOGL is Avalon Capital Management’s Largest Position

Avalon Capital Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,128 shares of the information services provider’s stock after selling 4,720 shares during the period. Alphabet makes up approximately 7.2% of Avalon Capital Management’s holdings, making the stock its largest position. Avalon Capital Management’s holdings in Alphabet were worth $26,633,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Smart Money Group LLC raised its holdings in Alphabet by 9.4% during the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after purchasing an additional 532 shares in the last quarter. Resurgent Financial Advisors LLC lifted its position in Alphabet by 9.1% in the first quarter. Resurgent Financial Advisors LLC now owns 19,059 shares of the information services provider’s stock valued at $2,947,000 after purchasing an additional 1,584 shares during the period. Finally, Beckerman Institutional LLC lifted its position in Alphabet by 7.5% in the first quarter. Beckerman Institutional LLC now owns 22,536 shares of the information services provider’s stock valued at $3,485,000 after purchasing an additional 1,569 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,174 shares of company stock worth $58,095,223 in the last ninety days. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GOOGL shares. BNP Paribas Exane boosted their target price on Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Oppenheimer upped their price objective on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Stifel Nicolaus set a $333.00 target price on Alphabet in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Trading Up 3.5%

NASDAQ:GOOGL opened at $299.66 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $306.42. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $262.39 and a 200-day simple moving average of $213.84. The company has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s 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.