Invera Wealth Advisors LLC Purchases 435 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Invera Wealth Advisors LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,877 shares of the information services provider’s stock after purchasing an additional 435 shares during the quarter. Alphabet accounts for 3.9% of Invera Wealth Advisors LLC’s portfolio, making the stock its 4th largest position. Invera Wealth Advisors LLC’s holdings in Alphabet were worth $4,661,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GOOGL. RWQ Financial Management Services Inc. grew its position in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Robbins Farley grew its holdings in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares during the period. Ballast Advisors LLC raised its position in Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares in the last quarter. CKW Financial Group raised its position in Alphabet by 5.8% during the first quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after acquiring an additional 760 shares in the last quarter. Finally, Quantum Financial Advisors LLC lifted its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 3.4 %

Shares of GOOGL stock traded down $5.80 on Monday, hitting $166.15. The stock had a trading volume of 45,549,086 shares, compared to its average volume of 30,833,311. The company’s 50 day moving average price is $148.36 and its 200-day moving average price is $141.62. Alphabet Inc. has a 1 year low of $103.71 and a 1 year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a P/E/G ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOGL. Raymond James lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company lifted their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday. JMP Securities increased their price target on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Roth Mkm upped their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $189.44.

Alphabet 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.