Avid Wealth Partners LLC Has $253,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Avid Wealth Partners LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,338 shares of the information services provider’s stock after selling 82 shares during the quarter. Avid Wealth Partners LLC’s holdings in Alphabet were worth $253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schear Investment Advisers LLC lifted its holdings in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the period. Landscape Capital Management L.L.C. raised its position in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. abrdn plc lifted its stake in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. Olistico Wealth LLC boosted its position in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after purchasing an additional 11,481 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Piper Sandler cut their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald decreased their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Ten research 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’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.23 on Friday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The business has a fifty day simple moving average of $192.85 and a two-hundred day simple moving average of $175.14. The company has a market capitalization of $2.27 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.39 and a beta of 0.99.

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

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is currently owned by corporate insiders.

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.