Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Aveo Capital Partners LLC

Key Points

• Aveo Capital Partners LLC increased its holdings in Alphabet Inc. by 18.7%, owning a total of 11,010 shares, valued at approximately $1.68 million as per their recent SEC filing.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for $6.38 million, reducing his ownership by 1.29%, while insiders have sold a total of 273,219 shares valued at $49.47 million over the past three months.
• Alphabet's stock is currently rated as a Moderate Buy with a consensus price target of $215.19, following strong earnings of $2.31 per share, exceeding expectations by $0.19.

Aveo Capital Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,010 shares of the information services provider's stock after acquiring an additional 1,735 shares during the quarter. Aveo Capital Partners LLC's holdings in Alphabet were worth $1,682,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC boosted its holdings in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after acquiring an additional 1,376 shares during the period. Harvest Investment Services LLC boosted its holdings in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after acquiring an additional 138 shares during the period. Fermata Advisors LLC lifted its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc lifted its holdings in shares of Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock traded down $0.46 during trading on Monday, hitting $201.63. The stock had a trading volume of 16,675,980 shares, compared to its average volume of 24,727,342. The company's 50 day moving average price is $181.90 and its two-hundred day moving average price is $174.35. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the company earned $1.89 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,219 shares of company stock worth $49,674,273 over the last 90 days. Company insiders own 12.99% of the company's stock.

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.