ABLE Financial Group LLC Sells 283 Shares of Alphabet Inc. (NASDAQ:GOOGL)

ABLE Financial Group LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,624 shares of the information services provider’s stock after selling 283 shares during the period. ABLE Financial Group LLC’s holdings in Alphabet were worth $1,596,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 4.6 %

Shares of Alphabet stock opened at $167.83 on Friday. 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 company has a 50-day moving average of $167.50 and a 200 day moving average of $170.38. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. DA Davidson started coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by 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.