Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,543 shares of the information services provider’s stock after selling 633 shares during the period. Alphabet accounts for approximately 0.5% of OneAscent Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. OneAscent Wealth Management LLC’s holdings in Alphabet were worth $1,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC grew its holdings in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the period. Wulff Hansen & CO. raised its stake in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Finally, PineStone Asset Management Inc. raised its stake in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on 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 directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,124 shares of company stock worth $31,374,030 in the last three months. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOOGL shares. Royal Bank of Canada boosted their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Evercore ISI lifted their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Tigress Financial increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Seven investment 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’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.5 %

GOOGL stock opened at $171.49 on Tuesday. The company has a 50 day moving average price of $168.47 and a two-hundred day moving average price of $170.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 22.74, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 the consensus estimate 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 business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. 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.