Octavia Wealth Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Octavia Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,770 shares of the information services provider’s stock after acquiring an additional 4,563 shares during the quarter. Alphabet comprises approximately 2.7% of Octavia Wealth Advisors LLC’s portfolio, making the stock its 10th biggest position. Octavia Wealth Advisors LLC’s holdings in Alphabet were worth $20,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of GOOGL. Northstar Advisory Group LLC increased its holdings in shares of Alphabet by 5.7% in the 2nd quarter. Northstar Advisory Group LLC now owns 10,468 shares of the information services provider’s stock worth $1,907,000 after purchasing an additional 561 shares in the last quarter. Privium Fund Management UK Ltd boosted its holdings in shares of Alphabet by 6.6% during the 2nd quarter. Privium Fund Management UK Ltd now owns 57,691 shares of the information services provider’s stock valued at $10,701,000 after acquiring an additional 3,591 shares during the last quarter. Naviter Wealth LLC grew its stake in shares of Alphabet by 40.2% in the second quarter. Naviter Wealth LLC now owns 56,790 shares of the information services provider’s stock worth $10,344,000 after acquiring an additional 16,295 shares during the period. Magnus Financial Group LLC raised its holdings in shares of Alphabet by 8.6% during the second quarter. Magnus Financial Group LLC now owns 31,756 shares of the information services provider’s stock valued at $5,784,000 after purchasing an additional 2,514 shares during the last quarter. Finally, LMG Wealth Partners LLC lifted its position in Alphabet by 4.5% during the second quarter. LMG Wealth Partners LLC now owns 10,172 shares of the information services provider’s stock valued at $1,853,000 after purchasing an additional 441 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. UBS Group lifted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley dropped their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Finally, Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

Shares of Alphabet stock opened at $158.06 on Tuesday. The company has a market capitalization 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 company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The stock’s fifty day moving average is $166.84 and its two-hundred day moving average is $165.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm posted $1.44 EPS. As a group, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated 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 sale, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at $4,385,565. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders sold 180,167 shares of company stock valued at $30,139,931 over the last 90 days. Insiders own 11.55% 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.