Octavia Wealth Advisors LLC Purchases 1,709 Shares of Alphabet Inc. $GOOG

Octavia Wealth Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,764 shares of the information services provider’s stock after acquiring an additional 1,709 shares during the period. Octavia Wealth Advisors LLC’s holdings in Alphabet were worth $5,544,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its position in shares of Alphabet by 11.8% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 370 shares of the information services provider’s stock worth $90,000 after buying an additional 39 shares during the last quarter. Higgins & Schmidt Wealth Strategies LLC lifted its stake in Alphabet by 2.2% in the third quarter. Higgins & Schmidt Wealth Strategies LLC now owns 1,818 shares of the information services provider’s stock worth $443,000 after acquiring an additional 40 shares during the period. Hartmann Taylor Wealth Management LLC boosted its holdings in Alphabet by 2.3% in the third quarter. Hartmann Taylor Wealth Management LLC now owns 1,813 shares of the information services provider’s stock valued at $442,000 after acquiring an additional 40 shares in the last quarter. Riverbend Wealth Management LLC increased its position in Alphabet by 1.0% during the 3rd quarter. Riverbend Wealth Management LLC now owns 4,198 shares of the information services provider’s stock valued at $1,023,000 after purchasing an additional 41 shares during the period. Finally, Meritas Wealth Management LLC raised its holdings in Alphabet by 3.0% in the 3rd quarter. Meritas Wealth Management LLC now owns 1,458 shares of the information services provider’s stock worth $355,000 after purchasing an additional 42 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 target price on Alphabet in a report on Thursday, October 30th. BNP Paribas Exane started coverage on Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating for the company. Finally, Pivotal Research restated a “buy” rating and set a $400.00 price target (up from $350.00) on shares of Alphabet in a research report on Friday, December 5th. Seven equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $321.97.

Get Our Latest Report on Alphabet

Alphabet Stock Up 1.9%

GOOG stock opened at $328.38 on Thursday. The business has a 50 day moving average of $314.27 and a 200 day moving average of $258.65. The firm has a market cap of $3.96 trillion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $341.20. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Free Report) 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 35.00% 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. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the transaction, the insider directly owned 42,972 shares of the company’s stock, valued at approximately $13,531,453.08. The trade was a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total transaction of $10,439,325.00. Following the sale, the chief executive officer owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. The trade was a 1.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 192,687 shares of company stock worth $58,728,068 in the last 90 days. Insiders own 12.99% of the company’s stock.

Key Stories Impacting Alphabet

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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