Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,543 shares of the information services provider’s stock after selling 633 shares during the quarter. Alphabet accounts for about 0.5% of OneAscent Wealth Management LLC’s portfolio, making the stock its 17th largest position. OneAscent Wealth Management LLC’s holdings in Alphabet were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP acquired a new position in Alphabet in the 3rd quarter worth $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet during the second quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on GOOGL shares. KeyCorp boosted their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Up 1.5 %

Shares of Alphabet stock opened at $171.49 on Tuesday. 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 1-year low of $127.90 and a 1-year high of $191.75. The business’s fifty day moving average price is $168.47 and its two-hundred day moving average price is $170.31. The company has a market capitalization of $2.10 trillion, a P/E ratio of 22.74, a PEG ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 186,124 shares of company stock valued at $31,374,030. Company insiders own 11.55% of the company’s stock.

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.