Alphabet Inc. (NASDAQ:GOOGL) Stock Position Boosted by Invera Wealth Advisors LLC

Invera Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 29,877 shares of the information services provider’s stock after acquiring an additional 435 shares during the period. Alphabet makes up 3.9% of Invera Wealth Advisors LLC’s portfolio, making the stock its 4th biggest position. Invera Wealth Advisors LLC’s holdings in Alphabet were worth $4,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Meritage Group LP lifted its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its holdings in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $5.80 during midday trading on Monday, hitting $166.15. 45,549,086 shares of the company’s stock were exchanged, compared to its average volume of 30,833,311. Alphabet Inc. has a twelve month low of $103.71 and a twelve month high of $174.71. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. The stock’s 50 day moving average price is $148.36 and its 200-day moving average price is $141.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the firm posted $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOGL shares. Morgan Stanley lifted their price objective on Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group boosted their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group increased their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $189.44.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 0.88% 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.