New Covenant Trust Company N.A. Sells 75 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Covenant Trust Company N.A. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,936 shares of the information services provider’s stock after selling 75 shares during the period. Alphabet accounts for approximately 0.9% of New Covenant Trust Company N.A.’s portfolio, making the stock its 24th largest holding. New Covenant Trust Company N.A.’s holdings in Alphabet were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. State Street Corp increased its position in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Alphabet by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after purchasing an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock worth $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. DA Davidson increased their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, KeyCorp reduced their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.03.

Alphabet Price Performance

GOOGL opened at $160.67 on Wednesday. The stock has a fifty day simple moving average of $184.35 and a two-hundred day simple moving average of $176.56. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $146.08 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict 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, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.