Trust Investment Advisors Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Trust Investment Advisors boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,814 shares of the information services provider’s stock after acquiring an additional 571 shares during the quarter. Alphabet accounts for 1.5% of Trust Investment Advisors’ portfolio, making the stock its 12th biggest holding. Trust Investment Advisors’ holdings in Alphabet were worth $2,350,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Capital International Investors increased its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. JPMorgan Chase & Co. increased its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Capital World Investors increased its holdings in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the period. Capital Research Global Investors raised its position in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares in the last quarter. Finally, Sanders Capital LLC lifted its holdings in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after buying an additional 813,428 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $163.24 on Friday. The firm’s fifty day simple moving average is $166.71 and its two-hundred day simple moving average is $166.58. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,667 shares of company stock worth $33,964,256. Company insiders own 12.99% 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.