Aveo Capital Partners LLC Has $2.03 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Aveo Capital Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 26.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,166 shares of the information services provider’s stock after selling 4,097 shares during the quarter. Aveo Capital Partners LLC’s holdings in Alphabet were worth $2,034,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC purchased a new position in Alphabet in the first quarter worth $30,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at $36,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $30,139,931 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating and set a $222.00 target price on shares of Alphabet in a research report on Monday. Royal Bank of Canada lifted their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Tigress Financial upped their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Mizuho raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $158.06 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $1.95 trillion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $166.84 and a 200-day moving average price of $165.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.