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Alphabet Inc. (NASDAQ:GOOGL) is Avitas Wealth Management LLC’s 4th Largest Position

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Avitas Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 73.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,583 shares of the information services provider’s stock after acquiring an additional 3,205 shares during the period. Alphabet makes up 3.8% of Avitas Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. Avitas Wealth Management LLC’s holdings in Alphabet were worth $21,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Morling Financial Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $29,000. West Bancorporation Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $29,000. Wealthgate Family Office LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $32,000. NS Partners Ltd purchased a new position in Alphabet in the 4th quarter valued at approximately $41,000. Finally, Schubert & Co purchased a new position in Alphabet in the 4th quarter valued at approximately $43,000. 41.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Guggenheim lowered their target price on Alphabet from $167.50 to $150.00 in a report on Wednesday, April 27th. Stifel Nicolaus set a $155.00 target price on Alphabet in a report on Monday. Wells Fargo & Company reduced their target price on Alphabet from $180.00 to $170.00 in a report on Wednesday, April 27th. Canaccord Genuity Group reduced their target price on Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Finally, Wedbush reduced their target price on Alphabet from $190.00 to $155.65 in a report on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.02.

Alphabet Stock Performance

Shares of GOOGL stock opened at $113.90 on Thursday. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $154.72 and a two-hundred day moving average of $140.14. Alphabet Inc. has a 52 week low of $101.88 and a 52 week high of $151.55. The company has a market cap of $75.00 billion, a P/E ratio of 20.60, a PEG ratio of 1.08 and a beta of 1.10.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.05). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 5.47 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of Alphabet stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the transaction, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of Alphabet stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the transaction, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 5,739 shares of company stock worth $12,616,323 over the last ninety days. Company insiders own 11.44% of the company’s stock.

Alphabet 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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