Asset Advisors Investment Management LLC Has $21.99 Million Stake in Alphabet Inc. $GOOGL

Asset Advisors Investment Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 124,793 shares of the information services provider’s stock after selling 1,026 shares during the period. Alphabet comprises about 2.2% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 12th biggest holding. Asset Advisors Investment Management LLC’s holdings in Alphabet were worth $21,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. boosted its holdings in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG boosted its holdings in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $236.57 on Friday. The firm has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. The company has a 50 day moving average of $226.31 and a 200-day moving average of $188.49. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Needham & Company LLC upped their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Bank of America upped their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Wolfe Research upped their price target on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.88.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,738 shares of company stock valued at $59,135,475. Insiders own 11.64% of the company’s stock.

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.