Alphabet Inc. $GOOGL Shares Sold by Coastline Trust Co

Coastline Trust Co cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,020 shares of the information services provider’s stock after selling 745 shares during the period. Alphabet makes up approximately 3.1% of Coastline Trust Co’s holdings, making the stock its 8th biggest position. Coastline Trust Co’s holdings in Alphabet were worth $27,495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $245.35 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The firm’s fifty day simple moving average is $221.25 and its 200 day simple moving average is $185.80. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOGL shares. Rosenblatt Securities upped their price objective on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. UBS Group upped their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. BNP Paribas Exane reiterated a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Wedbush upped their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.76.

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.