Aigen Investment Management LP Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Aigen Investment Management LP cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 49.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,810 shares of the information services provider’s stock after selling 2,778 shares during the quarter. Aigen Investment Management LP’s holdings in Alphabet were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Prime Capital Investment Advisors LLC boosted its holdings in Alphabet by 8.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 202,723 shares of the information services provider’s stock worth $33,893,000 after buying an additional 15,392 shares during the period. Savvy Advisors Inc. lifted its position in shares of Alphabet by 37.2% during the third quarter. Savvy Advisors Inc. now owns 12,256 shares of the information services provider’s stock worth $2,049,000 after acquiring an additional 3,322 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Alphabet by 2.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 100,510 shares of the information services provider’s stock worth $16,804,000 after acquiring an additional 2,326 shares during the period. Meridian Management Co. grew its position in shares of Alphabet by 4.5% in the third quarter. Meridian Management Co. now owns 31,701 shares of the information services provider’s stock valued at $5,300,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Apollon Financial LLC raised its stake in shares of Alphabet by 0.8% during the 3rd quarter. Apollon Financial LLC now owns 64,143 shares of the information services provider’s stock valued at $10,724,000 after purchasing an additional 493 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $177.35 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.17 trillion, a PE ratio of 23.63, a PEG ratio of 1.29 and a beta of 1.04. The company’s fifty day moving average is $166.20 and its 200 day moving average is $171.57. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOG. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.