Global Trust Asset Management LLC Purchases 138 Shares of Alphabet Inc. $GOOGL

Global Trust Asset Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,190 shares of the information services provider’s stock after acquiring an additional 138 shares during the quarter. Global Trust Asset Management LLC’s holdings in Alphabet were worth $1,091,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Rhumbline Advisers increased its stake in Alphabet by 0.8% in the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock worth $1,742,444,000 after buying an additional 86,670 shares during the period. Matrix Trust Co increased its stake in Alphabet by 38.7% in the 1st quarter. Matrix Trust Co now owns 1,322 shares of the information services provider’s stock worth $204,000 after buying an additional 369 shares during the period. Finally, Vest Financial LLC increased its stake in Alphabet by 768.3% in the 1st quarter. Vest Financial LLC now owns 215,559 shares of the information services provider’s stock worth $33,334,000 after buying an additional 190,733 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on GOOGL shares. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday. Barclays raised their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Citigroup raised their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, September 15th. JMP Securities raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Finally, Citizens Jmp raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $240.76.

Alphabet Stock Down 0.1%

GOOGL stock opened at $245.35 on Friday. The firm has a 50 day moving average of $221.25 and a 200 day moving average of $185.80. The stock has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the transaction, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 11.64% of the company’s stock.

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.