ASB Consultores LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

ASB Consultores LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,259 shares of the information services provider’s stock after selling 1,748 shares during the quarter. Alphabet accounts for approximately 0.7% of ASB Consultores LLC’s holdings, making the stock its 18th biggest holding. ASB Consultores LLC’s holdings in Alphabet were worth $1,867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Quarry LP bought a new position in Alphabet during the 2nd quarter valued at about $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet during the 2nd quarter valued at about $55,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated 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 in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 over the last quarter. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GOOGL shares. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. KeyCorp upped their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Monday. The company has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a fifty day simple moving average of $165.61 and a 200-day simple moving average of $170.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 10.61%.

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.