ASB Consultores LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

ASB Consultores LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 23.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,591 shares of the information services provider’s stock after selling 1,758 shares during the period. ASB Consultores LLC’s holdings in Alphabet were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter worth about $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the 2nd quarter worth $44,000. Hoese & Co LLP increased its position in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter worth approximately $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on GOOG shares. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

Alphabet stock opened at $164.64 on Friday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $166.26 and its 200 day moving average price is $166.79.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders sold 202,667 shares of company stock valued at $33,964,256. Company insiders own 12.99% of the company’s stock.

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.