Avion Wealth Buys 887 Shares of Alphabet Inc. $GOOG

Avion Wealth raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 72.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,106 shares of the information services provider’s stock after purchasing an additional 887 shares during the quarter. Avion Wealth’s holdings in Alphabet were worth $373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its position in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG increased its stake in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $260.51 on Friday. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00. The business’s fifty day moving average is $237.33 and its 200 day moving average is $196.66. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $262.51. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Morgan Stanley boosted their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.68.

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.