Avidian Wealth Enterprises LLC Has $2.77 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Avidian Wealth Enterprises LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,567 shares of the information services provider’s stock after selling 274 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Alphabet were worth $2,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 in the last quarter. Hosking Partners LLP increased its holdings in Alphabet by 0.6% during the 1st quarter. Hosking Partners LLP now owns 729,570 shares of the information services provider’s stock valued at $111,084,000 after purchasing an additional 4,442 shares in the last quarter. Gilbert & Cook Inc. raised its position in Alphabet by 27.0% in the 1st quarter. Gilbert & Cook Inc. now owns 37,035 shares of the information services provider’s stock valued at $5,639,000 after purchasing an additional 7,876 shares during the last quarter. Quent Capital LLC boosted its stake in Alphabet by 5.8% in the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares in the last quarter. Finally, GSB Wealth Management LLC grew its holdings in shares of Alphabet by 5.9% during the first quarter. GSB Wealth Management LLC now owns 17,891 shares of the information services provider’s stock worth $2,724,000 after purchasing an additional 991 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,552 shares of company stock valued at $34,433,848. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Up 0.4 %

GOOG opened at $171.41 on Wednesday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The firm has a market cap of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s fifty day moving average is $163.97 and its two-hundred day moving average is $170.83.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.