Alphabet Inc. (NASDAQ:GOOGL) Stake Lessened by Global Trust Asset Management LLC

Global Trust Asset Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 66.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166 shares of the information services provider’s stock after selling 335 shares during the period. Global Trust Asset Management LLC’s holdings in Alphabet were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the last quarter. State Street Corp increased its stake in Alphabet by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at $14,477,662,000. Aaron Wealth Advisors LLC increased its stake in Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after purchasing an additional 4,702,590 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Alphabet by 4.3% during the first quarter. Fisher Asset Management LLC now owns 2,025,990 shares of the information services provider’s stock valued at $5,634,988,000 after purchasing an additional 83,043 shares during the last quarter. Institutional investors own 1.88% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,536 shares of company stock worth $15,729,998. Insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $100.14 on Friday. The company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.64 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $98.79 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The business’s 50-day moving average is $111.79 and its 200-day moving average is $117.82.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. During the same quarter in the prior year, the company earned $27.26 EPS. Equities research analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOGL shares. Evercore ISI reduced their price target on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. MKM Partners reduced their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. William Blair reissued an “outperform” rating on shares of Alphabet in a report on Wednesday, July 27th. Monness Crespi & Hardt reduced their price target on shares of Alphabet to $145.00 in a report on Tuesday, July 5th. Finally, Rosenblatt Securities boosted their price target on shares of Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, September 7th. Five equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $147.41.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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