Alphabet Inc. (NASDAQ:GOOGL) is Strategy Asset Managers LLC’s 7th Largest Position

Strategy Asset Managers LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 83,788 shares of the information services provider’s stock after selling 13,168 shares during the quarter. Alphabet accounts for about 2.7% of Strategy Asset Managers LLC’s portfolio, making the stock its 7th largest position. Strategy Asset Managers LLC’s holdings in Alphabet were worth $13,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MorganRosel Wealth Management LLC raised its holdings in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC raised its stake in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings 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 worth $26,000 after acquiring an additional 60 shares during the last quarter. First PREMIER Bank boosted its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares in the last quarter. Finally, Cutler Investment Counsel LLC grew its holdings in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,624 shares of company stock valued at $27,803,730. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $171.34 on Wednesday. The company has a market capitalization of $2.10 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.22 and a beta of 1.01. The business has a fifty day simple moving average of $168.84 and a two-hundred day simple moving average of $170.26. 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.

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 analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the company posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JMP Securities raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus 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.