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

SP Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the second quarter, HoldingsChannel reports. The firm owned 145,112 shares of the information services provider’s stock after selling 691 shares during the period. Alphabet accounts for about 2.1% of SP Asset Management LLC’s holdings, making the stock its 12th biggest holding. SP Asset Management LLC’s holdings in Alphabet were worth $25,573,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. raised its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its holdings in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $285.02 on Tuesday. The stock has a market capitalization of $3.44 trillion, a P/E ratio of 28.11, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $258.26 and a two-hundred day simple moving average of $210.16. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $293.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given 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 is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. CICC Research lifted their target price on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Needham & Company LLC upped their price objective on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BMO Capital Markets set a $294.00 target price on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company lifted their price target on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 222,396 shares of company stock valued at $54,151,037. Corporate insiders own 11.64% of the company’s stock.

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.