Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Avaii Wealth Management LLC

Avaii Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.5% during the 3rd quarter, Holdings Channel reports. The fund owned 31,137 shares of the information services provider’s stock after acquiring an additional 2,180 shares during the quarter. Alphabet comprises 2.6% of Avaii Wealth Management LLC’s portfolio, making the stock its 12th largest holding. Avaii Wealth Management LLC’s holdings in Alphabet were worth $5,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC bought a new position in Alphabet during the 1st quarter valued at $30,000. Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter worth $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at $53,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOOGL. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Morgan Stanley lowered their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Truist Financial increased their target price on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Pivotal Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, TD Securities raised their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Trading Up 1.6 %

NASDAQ:GOOGL opened at $165.27 on Friday. The company has a market capitalization of $2.03 trillion, a P/E ratio of 23.71, a P/E/G ratio of 1.27 and a beta of 1.04. The stock’s 50 day moving average price is $161.95 and its 200 day moving average price is $168.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.