Avaii Wealth Management LLC Purchases 204 Shares of Alphabet Inc. (NASDAQ:GOOG)

Avaii Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,515 shares of the information services provider’s stock after purchasing an additional 204 shares during the period. Avaii Wealth Management LLC’s holdings in Alphabet were worth $253,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC grew its holdings in Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its position in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares in the last quarter. Finally, Alliance Wealth Management Group boosted its holdings in Alphabet by 93.6% during the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after acquiring an additional 1,890 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. UBS Group cut their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Pivotal Research began coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Down 1.3 %

Shares of Alphabet stock opened at $164.51 on Friday. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50-day simple moving average is $163.18 and its 200 day simple moving average is $169.52.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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.