Aspen Investment Management Inc Sells 2,810 Shares of Alphabet Inc. $GOOGL

Aspen Investment Management Inc trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 21.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,051 shares of the information services provider’s stock after selling 2,810 shares during the quarter. Aspen Investment Management Inc’s holdings in Alphabet were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Bridgeway Capital Management LLC raised its stake in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC increased its holdings in shares of Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares in the last quarter. Moment Partners LLC raised its position in shares of Alphabet by 9.3% in the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Welch Group LLC boosted its stake in Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management grew its position in Alphabet by 4.8% during the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This trade represents a 19.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the transaction, the chief executive officer directly owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,072 shares of company stock worth $58,074,027 over the last 90 days. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Evercore ISI lifted their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Needham & Company LLC increased their price objective on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. President Capital raised their price objective on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Daiwa Capital Markets upped their target price on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.84.

Alphabet Stock Up 0.0%

Shares of GOOGL opened at $320.02 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $269.25 and a two-hundred day simple moving average of $219.56. The company has a market capitalization of $3.86 trillion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $99.90 billion. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

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.