Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Avantra Family Wealth Inc.

Avantra Family Wealth Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,900 shares of the information services provider’s stock after selling 464 shares during the period. Alphabet accounts for about 1.2% of Avantra Family Wealth Inc.’s investment portfolio, making the stock its 14th biggest holding. Avantra Family Wealth Inc.’s holdings in Alphabet were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $51,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at $53,000. Finally, Campbell Capital Management Inc. acquired a new position in Alphabet during the 4th quarter worth $57,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Alphabet from $200.00 to $203.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. KeyCorp upped their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Morgan Stanley decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.17.

Alphabet Stock Performance

GOOGL stock opened at $170.68 on Thursday. The business’s fifty day moving average is $165.45 and its 200-day moving average is $174.58. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.07 trillion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the business posted $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,306 shares of company stock valued at $35,782,927. 11.64% of the stock is owned by company insiders.

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.