Global Trust Asset Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Global Trust Asset Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 58.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,740 shares of the information services provider’s stock after buying an additional 3,609 shares during the period. Global Trust Asset Management LLC’s holdings in Alphabet were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank OH increased its stake in Alphabet by 5.4% during the 3rd quarter. Peoples Bank OH now owns 8,623 shares of the information services provider’s stock worth $1,430,000 after buying an additional 442 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares in the last quarter. BOCHK Asset Management Ltd acquired a new position in Alphabet in the 3rd quarter valued at $5,108,000. IFM Investors Pty Ltd lifted its holdings in Alphabet by 1.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 1,147,467 shares of the information services provider’s stock valued at $190,307,000 after purchasing an additional 11,761 shares in the last quarter. Finally, Bogart Wealth LLC boosted its stake in Alphabet by 54.5% during the 3rd quarter. Bogart Wealth LLC now owns 110,404 shares of the information services provider’s stock worth $18,310,000 after purchasing an additional 38,967 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $169.24 on Tuesday. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 1.23 and a beta of 1.03. The business’s 50-day moving average price is $162.49 and its two-hundred day moving average price is $169.20. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOOGL shares. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock valued at $38,086,723 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.