Octavia Wealth Advisors LLC Sells 973 Shares of Alphabet Inc. (NASDAQ:GOOG)

Octavia Wealth Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,850 shares of the information services provider’s stock after selling 973 shares during the period. Octavia Wealth Advisors LLC’s holdings in Alphabet were worth $3,079,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter worth $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet during the fourth quarter worth $28,000. Finally, Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.4 %

NASDAQ GOOG opened at $157.46 on Friday. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50 day moving average price is $147.35 and its two-hundred day moving average price is $141.72. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOG shares. Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Susquehanna upped their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $159.86.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.