Audent Global Asset Management LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Audent Global Asset Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 39.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,085 shares of the information services provider’s stock after selling 10,479 shares during the period. Alphabet makes up about 4.6% of Audent Global Asset Management LLC’s holdings, making the stock its 7th biggest position. Audent Global Asset Management LLC’s holdings in Alphabet were worth $2,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP purchased a new position in Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in Alphabet during the second quarter valued at approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,123 shares of company stock worth $34,121,676 in the last three months. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOGL shares. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock opened at $191.96 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50-day moving average of $170.66 and a 200 day moving average of $170.46. The firm has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s 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.