Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,046 shares of the information services provider's stock after purchasing an additional 3,183 shares during the period. Alphabet comprises about 2.1% of Octavia Wealth Advisors LLC's portfolio, making the stock its 12th largest holding. Octavia Wealth Advisors LLC's holdings in Alphabet were worth $17,636,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Muirfield Wealth Advisors LLC increased its holdings in Alphabet by 1.8% in the 1st quarter. Muirfield Wealth Advisors LLC now owns 8,057 shares of the information services provider's stock worth $1,246,000 after acquiring an additional 139 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its position in shares of Alphabet by 4.7% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,499 shares of the information services provider's stock valued at $535,000 after purchasing an additional 158 shares during the period. Everest Management Corp. increased its stake in shares of Alphabet by 0.4% during the first quarter. Everest Management Corp. now owns 48,600 shares of the information services provider's stock worth $7,516,000 after purchasing an additional 198 shares in the last quarter. Tounjian Advisory Partners LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $8,093,000. Finally, Pallas Capital Advisors LLC increased its stake in Alphabet by 1.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 176,451 shares of the information services provider's stock worth $27,286,000 after buying an additional 2,168 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. JPMorgan Chase & Co. dropped their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Bank of America raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Cantor Fitzgerald cut their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Trading Up 1.4%

Alphabet stock traded up $2.51 during trading on Tuesday, hitting $178.60. The company had a trading volume of 61,705,672 shares, compared to its average volume of 30,325,150. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company's 50 day simple moving average is $160.52 and its 200-day simple moving average is $174.46.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the business posted $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock valued at $32,036,638 in the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Company 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.