Global Trust Asset Management LLC Grows Stock Holdings in Alphabet Inc. $GOOGL

Global Trust Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,190 shares of the information services provider’s stock after purchasing an additional 138 shares during the period. Global Trust Asset Management LLC’s holdings in Alphabet were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Missouri Trust & Investment Co increased its holdings in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its holdings in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the last quarter. Bfsg LLC increased its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares during the last quarter. Enzi Wealth increased its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after buying an additional 62 shares during the last quarter. Finally, Park Capital Management LLC WI increased its holdings in Alphabet by 1.1% during the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock valued at $1,058,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Westpark Capital upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Mizuho set a $295.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday. Sanford C. Bernstein upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Finally, Bank of America upped their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $240.76.

Alphabet Trading Down 0.1%

Shares of NASDAQ GOOGL opened at $245.35 on Friday. The business’s 50 day moving average is $221.25 and its two-hundred day moving average is $185.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business 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 of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 over the last ninety days. 11.64% of the stock is currently owned by company insiders.

About Alphabet

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.