Asset Dedication LLC Has $4.51 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Asset Dedication LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,162 shares of the information services provider’s stock after selling 5,986 shares during the period. Asset Dedication LLC’s holdings in Alphabet were worth $4,505,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capstone Wealth Management Group LLC increased its stake in shares of Alphabet by 1.9% during the 3rd quarter. Capstone Wealth Management Group LLC now owns 12,811 shares of the information services provider’s stock worth $2,125,000 after purchasing an additional 242 shares during the last quarter. Braun Bostich & Associates Inc. boosted its holdings in shares of Alphabet by 7.6% during the 3rd quarter. Braun Bostich & Associates Inc. now owns 3,446 shares of the information services provider’s stock worth $572,000 after buying an additional 242 shares during the period. Acorn Creek Capital LLC boosted its holdings in shares of Alphabet by 5.9% during the 3rd quarter. Acorn Creek Capital LLC now owns 3,288 shares of the information services provider’s stock worth $545,000 after buying an additional 183 shares during the period. EdgeRock Capital LLC boosted its holdings in shares of Alphabet by 7.5% during the 3rd quarter. EdgeRock Capital LLC now owns 6,399 shares of the information services provider’s stock worth $1,061,000 after buying an additional 444 shares during the period. Finally, Kapitalo Investimentos Ltda boosted its holdings in shares of Alphabet by 2.7% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 9,203 shares of the information services provider’s stock worth $1,526,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Royal Bank of Canada increased their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Argus increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.0 %

Shares of NASDAQ GOOGL opened at $162.72 on Friday. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.21 and a beta of 1.04. The business has a 50-day moving average of $161.87 and a 200-day moving average of $168.40. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.