Alphabet Inc. $GOOG Shares Sold by Aspen Capital Management LLC

Aspen Capital Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 11.1% in the 2nd quarter, Holdings Channel reports. The firm owned 3,063 shares of the information services provider’s stock after selling 383 shares during the quarter. Aspen Capital Management LLC’s holdings in Alphabet were worth $543,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Deutsche Bank AG grew its holdings in Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $269.93 on Tuesday. The stock has a market cap of $3.26 trillion, a PE ratio of 28.75, a P/E/G ratio of 1.76 and a beta of 1.00. 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 twelve month low of $142.66 and a twelve month high of $270.80. The stock has a fifty day simple moving average of $238.65 and a 200-day simple moving average of $197.67.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. DA Davidson set a $825.00 target price on Alphabet in a report on Monday. Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group upped their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.45.

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.