Avity Investment Management Inc. Has $46.42 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Avity Investment Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 243,742 shares of the information services provider’s stock after selling 7,777 shares during the period. Alphabet accounts for approximately 3.6% of Avity Investment Management Inc.’s holdings, making the stock its 8th largest holding. Avity Investment Management Inc.’s holdings in Alphabet were worth $46,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moseley Investment Management Inc. increased its holdings in Alphabet by 8.4% during the fourth quarter. Moseley Investment Management Inc. now owns 6,488 shares of the information services provider’s stock worth $1,236,000 after buying an additional 501 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Alphabet by 7.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,871 shares of the information services provider’s stock worth $1,118,000 after purchasing an additional 419 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Alphabet by 2.1% in the 4th quarter. Park Avenue Securities LLC now owns 107,428 shares of the information services provider’s stock valued at $20,459,000 after purchasing an additional 2,259 shares during the period. Kathmere Capital Management LLC lifted its stake in Alphabet by 4.9% in the 4th quarter. Kathmere Capital Management LLC now owns 21,001 shares of the information services provider’s stock valued at $4,000,000 after purchasing an additional 983 shares during the last quarter. Finally, SS&H Financial Advisors Inc. grew its holdings in Alphabet by 1.0% during the fourth quarter. SS&H Financial Advisors Inc. now owns 24,360 shares of the information services provider’s stock worth $4,640,000 after purchasing an additional 250 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOG shares. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Down 1.3 %

Shares of NASDAQ:GOOG opened at $194.48 on Friday. The company has a market capitalization of $2.38 trillion, a P/E ratio of 25.79, a P/E/G ratio of 1.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $185.32 and its 200 day simple moving average is $174.70. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

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.