Avidian Wealth Enterprises LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Avidian Wealth Enterprises LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,263 shares of the information services provider’s stock after selling 839 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Alphabet were worth $4,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. MorganRosel Wealth Management LLC boosted its position in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC lifted its position in Alphabet by 0.8% during the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. First PREMIER Bank boosted its holdings in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC grew its position in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 1.6 %

Shares of NASDAQ:GOOGL opened at $175.30 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $166.15 and its 200 day moving average price is $170.28. The company has a market cap of $2.15 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOGL shares. Loop Capital boosted their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.