Aspen Wealth Strategies LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Aspen Wealth Strategies LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,497 shares of the information services provider’s stock after selling 1,061 shares during the quarter. Alphabet accounts for approximately 1.4% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 11th biggest holding. Aspen Wealth Strategies LLC’s holdings in Alphabet were worth $2,238,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet in the second quarter worth approximately $53,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’s 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 sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.7 %

GOOGL opened at $181.62 on Wednesday. The business has a fifty day moving average price of $163.88 and a 200 day moving average price of $169.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lifted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. UBS Group increased their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.