Avestar Capital LLC Buys 1,168 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Avestar Capital LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,085 shares of the information services provider’s stock after purchasing an additional 1,168 shares during the period. Alphabet comprises 1.3% of Avestar Capital LLC’s holdings, making the stock its 15th largest position. Avestar Capital LLC’s holdings in Alphabet were worth $12,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Lantz Financial LLC increased its position in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after buying an additional 452 shares during the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Alphabet by 12.4% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 10,671 shares of the information services provider’s stock worth $1,944,000 after acquiring an additional 1,176 shares during the period. Worth Asset Management LLC increased its holdings in shares of Alphabet by 1,079.7% during the 2nd quarter. Worth Asset Management LLC now owns 16,315 shares of the information services provider’s stock worth $2,972,000 after acquiring an additional 14,932 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in Alphabet by 0.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 23,444 shares of the information services provider’s stock valued at $4,270,000 after acquiring an additional 150 shares during the period. Finally, Global Trust Asset Management LLC lifted its holdings in Alphabet by 34.7% during the 2nd quarter. Global Trust Asset Management LLC now owns 6,131 shares of the information services provider’s stock valued at $1,117,000 after purchasing an additional 1,580 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 800 shares of the business’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 transaction of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,789 shares of company stock worth $27,374,143. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock opened at $175.37 on Tuesday. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The stock’s fifty day simple moving average is $169.70 and its 200 day simple moving average is $170.21. 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 firm has a market capitalization of $2.15 trillion, a P/E ratio of 23.26, a P/E/G ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet 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.