Aveo Capital Partners LLC Has $2.03 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Aveo Capital Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 26.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,166 shares of the information services provider’s stock after selling 4,097 shares during the quarter. Aveo Capital Partners LLC’s holdings in Alphabet were worth $2,034,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at about $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,167 shares of company stock worth $30,139,931. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. Cantor Fitzgerald initiated coverage on shares of Alphabet in a report on Thursday, September 5th. They issued a “neutral” rating and a $190.00 target price on the stock. Evercore ISI decreased their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $158.06 on Tuesday. The company has a market capitalization of $1.95 trillion, a PE ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a fifty day simple moving average of $166.84 and a 200 day simple moving average of $165.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.44 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.