4,233 Shares in Alphabet Inc. $GOOG Bought by Avantra Family Wealth Inc.

Avantra Family Wealth Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,233 shares of the information services provider’s stock, valued at approximately $1,031,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cedar Mountain Advisors LLC increased its position in shares of Alphabet by 11.8% during the third quarter. Cedar Mountain Advisors LLC now owns 370 shares of the information services provider’s stock valued at $90,000 after acquiring an additional 39 shares during the last quarter. Higgins & Schmidt Wealth Strategies LLC boosted its stake in Alphabet by 2.2% in the 3rd quarter. Higgins & Schmidt Wealth Strategies LLC now owns 1,818 shares of the information services provider’s stock worth $443,000 after purchasing an additional 40 shares during the period. Hartmann Taylor Wealth Management LLC grew its stake in Alphabet by 2.3% during the third quarter. Hartmann Taylor Wealth Management LLC now owns 1,813 shares of the information services provider’s stock valued at $442,000 after acquiring an additional 40 shares in the last quarter. Riverbend Wealth Management LLC increased its holdings in shares of Alphabet by 1.0% in the third quarter. Riverbend Wealth Management LLC now owns 4,198 shares of the information services provider’s stock worth $1,023,000 after purchasing an additional 41 shares during the period. Finally, Meritas Wealth Management LLC raised its holdings in shares of Alphabet by 3.0% in the 3rd quarter. Meritas Wealth Management LLC now owns 1,458 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOG. Oppenheimer increased their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Morgan Stanley raised their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. DA Davidson set a $300.00 target price on shares of Alphabet in a research note on Tuesday, November 25th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $321.97.

Check Out Our Latest Stock Report on Alphabet

Alphabet Price Performance

GOOG stock opened at $328.38 on Thursday. The company has a fifty day simple moving average of $314.27 and a two-hundred day simple moving average of $258.65. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $341.20. The firm has a market capitalization of $3.96 trillion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the business earned $2.12 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the sale, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total transaction of $10,439,325.00. Following the completion of the sale, the chief executive officer directly owned 2,244,372 shares of the company’s stock, valued at $720,914,730.12. The trade was a 1.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 192,687 shares of company stock valued at $58,728,068 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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