Avidian Wealth Solutions LLC Acquires 960 Shares of Alphabet Inc. (NASDAQ:GOOG)

Avidian Wealth Solutions LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,128 shares of the information services provider’s stock after purchasing an additional 960 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Alphabet were worth $1,991,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOG. Veracity Capital LLC lifted its position in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank raised its position in Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the period. CNB Bank raised its position in Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its stake in Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.1 %

Shares of NASDAQ:GOOG traded down $0.14 on Monday, hitting $168.85. The company had a trading volume of 9,016,089 shares, compared to its average volume of 22,681,988. Alphabet Inc. has a 1 year low of $105.79 and a 1 year high of $176.42. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $151.46 and its two-hundred day simple moving average is $143.74. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for 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 company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced 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.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’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 owns 7,164 shares in the company, valued at approximately $1,072,665.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,129 shares of company stock valued at $40,382,765. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

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

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.