Aviso Wealth Management Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Aviso Wealth Management grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,930 shares of the information services provider’s stock after acquiring an additional 139 shares during the quarter. Aviso Wealth Management’s holdings in Alphabet were worth $657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 360.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after buying an additional 15,848 shares during the period. Quent Capital LLC boosted its holdings in Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after acquiring an additional 1,798 shares during the period. Empowered Funds LLC increased its stake in Alphabet by 19.0% during the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after buying an additional 13,756 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Alphabet by 50.0% in the first quarter. Hillsdale Investment Management Inc. now owns 330 shares of the information services provider’s stock worth $50,000 after acquiring an additional 110 shares in the last quarter. Finally, Rockport Wealth LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $284,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

Shares of GOOG opened at $173.89 on Monday. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The stock’s fifty day moving average is $167.01 and its 200-day moving average is $171.74. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,471,141 in the last three months. 12.99% of the stock is currently owned by insiders.

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.