Alphabet Inc. (NASDAQ:GOOGL) is Strategy Asset Managers LLC’s 7th Largest Position

Strategy Asset Managers LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,788 shares of the information services provider’s stock after selling 13,168 shares during the quarter. Alphabet comprises approximately 2.7% of Strategy Asset Managers LLC’s portfolio, making the stock its 7th largest holding. Strategy Asset Managers LLC’s holdings in Alphabet were worth $13,896,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Quent Capital LLC increased its position in Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Alexander Labrunerie & CO. Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $1,396,000. Pathway Financial Advisers LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $437,000. Spear Holdings RSC Ltd acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $39,302,000. Finally, Motiv8 Investments LLC raised its position in shares of Alphabet by 29.5% during the 1st quarter. Motiv8 Investments LLC now owns 4,786 shares of the information services provider’s stock valued at $722,000 after buying an additional 1,090 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. JMP Securities raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Alphabet stock opened at $171.34 on Wednesday. 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 business has a 50 day simple moving average of $168.84 and a 200-day simple moving average of $170.26. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market capitalization of $2.10 trillion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed 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 of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,624 shares of company stock valued at $27,803,730. 11.55% of the stock is owned by corporate insiders.

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.