Aviso Wealth Management Sells 870 Shares of Alphabet Inc. (NASDAQ:GOOG)

Aviso Wealth Management cut its position in Alphabet Inc. (NASDAQ:GOOG) by 22.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,060 shares of the information services provider’s stock after selling 870 shares during the quarter. Aviso Wealth Management’s holdings in Alphabet were worth $583,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter worth $33,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.7 %

GOOG opened at $172.79 on Wednesday. The stock’s fifty day simple moving average is $183.56 and its 200 day simple moving average is $178.44. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The stock has a market cap of $2.11 trillion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is 9.94%.

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.