Alphabet Inc. $GOOG Shares Sold by SP Asset Management LLC

SP Asset Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,655 shares of the information services provider’s stock after selling 316 shares during the period. Alphabet comprises about 0.9% of SP Asset Management LLC’s portfolio, making the stock its 28th largest holding. SP Asset Management LLC’s holdings in Alphabet were worth $10,405,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. IFS Advisors LLC lifted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the 1st quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wolfe Research upped their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday, October 30th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, KeyCorp restated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

GOOG stock opened at $285.34 on Friday. The company has a 50-day simple moving average of $250.48 and a 200 day simple moving average of $204.23. The company has a market capitalization of $3.45 trillion, a P/E ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,896 shares of company stock valued at $44,892,175 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.