Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 65,645 shares of the information services provider’s stock after selling 720 shares during the period. Avior Wealth Management LLC’s holdings in Alphabet were worth $10,887,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. LMR Partners LLP purchased a new position in Alphabet during the 3rd quarter valued at about $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new position in shares of Alphabet during the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $171.34 on Wednesday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.22 and a beta of 1.01. The stock’s 50 day simple moving average is $168.84 and its two-hundred day simple moving average is $170.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm earned $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Roth Mkm lifted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,624 shares of company stock worth $27,803,730 over the last quarter. 11.55% of the stock is currently owned by 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.