Alphabet Inc. $GOOG Shares Sold by Aspire Growth Partners LLC

Aspire Growth Partners LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,016 shares of the information services provider’s stock after selling 180 shares during the quarter. Alphabet accounts for about 1.0% of Aspire Growth Partners LLC’s holdings, making the stock its 19th biggest holding. Aspire Growth Partners LLC’s holdings in Alphabet were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. REDW Wealth LLC raised its position in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after purchasing an additional 54 shares during the period. GDS Wealth Management grew its stake in shares of Alphabet by 2.4% in the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after buying an additional 54 shares in the last quarter. ACT Advisors LLC. raised its holdings in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after buying an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its stake in Alphabet by 2.2% during the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares in the last quarter. Finally, LongView Wealth Management lifted its stake in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after acquiring an additional 56 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $319.95 on Friday. The business has a 50 day moving average price of $269.82 and a 200 day moving average price of $219.56. The stock has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated 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 trade represents a 19.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,850 shares of company stock valued at $58,874,814 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. BNP Paribas assumed coverage on shares of Alphabet in a research note on Monday. They issued an “outperform” rating for the company. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $304.62.

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.