Spinnaker Trust Has $7.41 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Spinnaker Trust raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,686 shares of the information services provider’s stock after buying an additional 198 shares during the quarter. Spinnaker Trust’s holdings in Alphabet were worth $7,411,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. New Hampshire Trust increased its holdings in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. acquired a new stake in Alphabet during the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP raised its stake in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC increased its stake in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the period. Finally, abrdn plc lifted its holdings in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Tigress Financial boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Up 1.6 %

GOOGL opened at $178.12 on Wednesday. The company has a fifty day moving average of $166.74 and a 200-day moving average of $170.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. 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 $2.18 trillion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock valued at $30,698,791 over the last three months. Corporate insiders own 11.55% of the company’s stock.

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.