Stansberry Asset Management LLC Sells 649 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stansberry Asset Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 160,513 shares of the information services provider’s stock after selling 649 shares during the quarter. Alphabet comprises about 3.3% of Stansberry Asset Management LLC’s holdings, making the stock its 2nd biggest position. Stansberry Asset Management LLC’s holdings in Alphabet were worth $26,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of 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 in the last quarter. LMR Partners LLP bought a new stake in Alphabet in the third quarter worth about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,623 shares of company stock worth $34,413,006 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The business’s 50-day simple moving average is $171.63 and its 200-day simple moving average is $170.67. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61. 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 firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 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 company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company posted $1.55 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Alphabet 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.