Invera Wealth Advisors LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Invera Wealth Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,677 shares of the information services provider’s stock after selling 1,594 shares during the period. Alphabet comprises approximately 5.2% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Invera Wealth Advisors LLC’s holdings in Alphabet were worth $5,282,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter worth $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC lifted its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler dropped their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Finally, DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Up 2.3 %

GOOGL opened at $170.92 on Wednesday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a market capitalization of $2.08 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 0.99. The stock’s fifty day moving average is $189.52 and its two-hundred day moving average is $176.41. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,316 shares of company stock valued at $25,062,887. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.