Invenio Wealth Partners LLC Has $234,000 Stock Position in Alphabet Inc. $GOOG

Invenio Wealth Partners LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 43.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,320 shares of the information services provider’s stock after selling 1,000 shares during the quarter. Invenio Wealth Partners LLC’s holdings in Alphabet were worth $234,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC raised its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC grew its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the first quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. Raymond James Financial set a $275.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Sanford C. Bernstein boosted their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Piper Sandler raised their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Performance

Alphabet stock opened at $285.60 on Tuesday. The stock’s 50 day simple moving average is $258.86 and its two-hundred day simple moving average is $211.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $294.52.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the sale, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,396 shares of company stock worth $54,151,037. 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.