Alpha Cubed Investments LLC Sells 10,506 Shares of Alphabet Inc. $GOOGL

Alpha Cubed Investments LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,800 shares of the information services provider’s stock after selling 10,506 shares during the quarter. Alphabet makes up 3.2% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 11th largest position. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $84,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. boosted its position in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after buying an additional 593,345 shares during the period. Deutsche Bank AG grew its holdings in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares in the company, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $299.66 on Friday. The company’s fifty day moving average price is $262.39 and its 200-day moving average price is $213.40. The stock has a market cap of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $306.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. BNP Paribas Exane upped their price objective on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Barclays restated an “overweight” rating and set a $315.00 price target (up previously from $250.00) on shares of Alphabet in a report on Thursday, October 30th. DA Davidson increased their price objective on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Stifel Nicolaus set a $333.00 price objective on Alphabet in a research report on Thursday, October 30th. Finally, Tigress Financial boosted their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $305.33.

About Alphabet

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.