Avity Investment Management Inc. Has $9.72 Million Holdings in Alphabet Inc. $GOOGL

Avity Investment Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,131 shares of the information services provider's stock after selling 16,192 shares during the period. Avity Investment Management Inc.'s holdings in Alphabet were worth $9,716,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its holdings in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG boosted its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after buying an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Wells Fargo & Company raised their target price on shares of Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Rosenblatt Securities upped their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Canaccord Genuity Group increased their price objective on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $222.85.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock valued at $49,208,380. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $251.61 on Tuesday. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $252.41. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The stock has a fifty day moving average of $203.39 and a 200-day moving average of $178.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

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.

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