Auxano Advisors LLC Reduces Position in Alphabet Inc. $GOOGL

Auxano Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,945 shares of the information services provider’s stock after selling 1,649 shares during the quarter. Alphabet comprises about 1.3% of Auxano Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Auxano Advisors LLC’s holdings in Alphabet were worth $5,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet in the second quarter worth $31,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet during the first quarter valued at $50,000. Finally, Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 77.6% in the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 152 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $314.49 on Tuesday. The stock has a 50-day moving average price of $270.48 and a 200 day moving average price of $220.62. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares in the company, valued at $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 225,072 shares of company stock valued at $58,074,027. 11.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on GOOGL. Moffett Nathanson boosted their price target on Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Citigroup restated a “buy” rating and set a $343.00 target price (up from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Morgan Stanley increased their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, China Renaissance upped their price objective on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.73.

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.