Avalon Trust Co Sells 25,651 Shares of Alphabet Inc. $GOOGL

Avalon Trust Co lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 35.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,722 shares of the information services provider’s stock after selling 25,651 shares during the quarter. Avalon Trust Co’s holdings in Alphabet were worth $8,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in Alphabet during the first quarter worth about $50,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $323.44 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.90 trillion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s fifty day moving average price is $265.17 and its 200-day moving average price is $216.20.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. 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 company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 225,174 shares of company stock worth $58,095,223 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Rosenblatt Securities lifted their price objective on shares of Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 price target (up from $290.00) on shares of Alphabet in a report on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of Alphabet in a report on Tuesday. Finally, Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $307.84.

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.