Aviance Capital Partners LLC Sells 518 Shares of Alphabet Inc. (NASDAQ:GOOG)

Aviance Capital Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,261 shares of the information services provider’s stock after selling 518 shares during the quarter. Aviance Capital Partners LLC’s holdings in Alphabet were worth $1,023,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Veracity Capital LLC boosted its position in shares of Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares in the last quarter. Washington Trust Bank grew its stake in Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after acquiring an additional 1,826 shares during the period. CNB Bank increased its holdings in shares of Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC raised its position in shares of Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $3.15 during mid-day trading on Tuesday, hitting $172.98. 21,087,028 shares of the stock were exchanged, compared to its average volume of 22,735,842. The company has a market capitalization of $2.14 trillion, a P/E ratio of 26.53, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50-day simple moving average of $152.74 and a 200 day simple moving average of $144.21. Alphabet Inc. has a 12 month low of $105.79 and a 12 month high of $176.42.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on 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 directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $165.67.

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.