Equitable Trust Co. Has $43.80 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Equitable Trust Co. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 264,098 shares of the information services provider’s stock after selling 41,577 shares during the period. Alphabet comprises approximately 2.8% of Equitable Trust Co.’s holdings, making the stock its 6th largest position. Equitable Trust Co.’s holdings in Alphabet were worth $43,801,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Source Financial Advisors LLC boosted its holdings in shares of Alphabet by 1.9% during the 3rd quarter. Source Financial Advisors LLC now owns 6,227 shares of the information services provider’s stock valued at $1,033,000 after purchasing an additional 118 shares during the last quarter. Beckerman Institutional LLC bought a new position in shares of Alphabet in the 3rd quarter valued at about $3,513,000. Leavell Investment Management Inc. lifted its holdings in shares of Alphabet by 2.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 35,003 shares of the information services provider’s stock valued at $5,805,000 after acquiring an additional 752 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. bought a new position in shares of Alphabet in the 3rd quarter valued at about $203,000. Finally, Capital Performance Advisors LLP lifted its holdings in shares of Alphabet by 7.9% in the 3rd quarter. Capital Performance Advisors LLP now owns 2,649 shares of the information services provider’s stock valued at $439,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $167.83 on Friday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm’s 50 day moving average price is $167.50 and its 200 day moving average price is $170.38. The company has a market cap of $2.05 trillion, a P/E ratio of 22.26, a PEG ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The company 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet 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.