Avitas Wealth Management LLC Sells 1,223 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Avitas Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,431 shares of the information services provider’s stock after selling 1,223 shares during the quarter. Alphabet makes up approximately 3.8% of Avitas Wealth Management LLC’s portfolio, making the stock its 4th largest position. Avitas Wealth Management LLC’s holdings in Alphabet were worth $27,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tanager Wealth Management LLP grew its holdings in shares of Alphabet by 10.4% during the 4th quarter. Tanager Wealth Management LLP now owns 27,252 shares of the information services provider’s stock valued at $5,159,000 after acquiring an additional 2,561 shares in the last quarter. Helios Capital Management PTE. Ltd. boosted its position in Alphabet by 625.0% during the fourth quarter. Helios Capital Management PTE. Ltd. now owns 17,400 shares of the information services provider’s stock valued at $3,294,000 after purchasing an additional 15,000 shares during the last quarter. Bank Hapoalim BM grew its stake in Alphabet by 1.7% in the fourth quarter. Bank Hapoalim BM now owns 9,245 shares of the information services provider’s stock valued at $1,750,000 after purchasing an additional 155 shares in the last quarter. Ninety One SA PTY Ltd increased its position in Alphabet by 0.8% in the 4th quarter. Ninety One SA PTY Ltd now owns 73,633 shares of the information services provider’s stock worth $13,939,000 after purchasing an additional 614 shares during the last quarter. Finally, Newton One Investments LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $76,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Evercore ISI raised their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald cut their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Price Performance

Alphabet stock opened at $186.14 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The firm has a market cap of $2.28 trillion, a P/E ratio of 23.12, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The business’s fifty day moving average is $192.37 and its two-hundred day moving average is $174.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.