Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,128 shares of the information services provider’s stock after purchasing an additional 960 shares during the period. Avidian Wealth Solutions LLC’s holdings in Alphabet were worth $1,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GOOG. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $26,000. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at about $25,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $32,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock valued at $40,382,765 in the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOG. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Price Performance

Shares of GOOG traded down $0.14 during mid-day trading on Monday, hitting $168.85. 9,016,089 shares of the company were exchanged, compared to its average volume of 22,681,988. The stock has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 1-year low of $105.79 and a 1-year high of $176.42. The company has a 50 day moving average of $151.46 and a 200-day moving average of $143.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

About Alphabet

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.