Avitas Wealth Management LLC Purchases 85,713 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Avitas Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,603.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,060 shares of the information services provider’s stock after purchasing an additional 85,713 shares during the period. Alphabet makes up about 2.0% of Avitas Wealth Management LLC’s holdings, making the stock its 9th largest holding. Avitas Wealth Management LLC’s holdings in Alphabet were worth $8,710,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after purchasing an additional 17,019,726 shares in the last quarter. Fiera Capital Corp lifted its stake in Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Alphabet by 1,830.2% in the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after acquiring an additional 15,633,495 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Alphabet by 1,821.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,352,658 shares of the information services provider’s stock valued at $894,580,000 after acquiring an additional 8,865,958 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Alphabet by 1,927.0% in the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after acquiring an additional 7,875,993 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GOOGL shares. Evercore ISI reduced their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Needham & Company LLC reduced their price objective on Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. MKM Partners reduced their price objective on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. Cowen reduced their price objective on Alphabet to $135.00 in a research note on Thursday, October 27th. Finally, Morgan Stanley increased their price objective on Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Stock Performance

NASDAQ GOOGL opened at $99.79 on Tuesday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The business’s 50-day moving average price is $93.12 and its 200 day moving average price is $101.49. The firm has a market cap of $1.29 trillion, a P/E ratio of 19.82, a P/E/G ratio of 1.72 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the prior year, the firm posted $1.40 EPS. On average, equities research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 360 shares of Alphabet stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $98.48, for a total value of $35,452.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,112,824. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 360 shares of Alphabet stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $98.48, for a total value of $35,452.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,112,824. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. 11.44% of the stock is owned by corporate insiders.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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