132,700 Shares in Alphabet Inc. $GOOGL Purchased by Caldwell Trust Co

Caldwell Trust Co acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 132,700 shares of the information services provider’s stock, valued at approximately $23,386,000. Alphabet comprises about 2.3% of Caldwell Trust Co’s portfolio, making the stock its 6th biggest position.

A number of other institutional investors also recently modified their holdings of the stock. Canal Capital Management LLC lifted its position in shares of Alphabet by 7.4% during the second quarter. Canal Capital Management LLC now owns 55,922 shares of the information services provider’s stock worth $9,855,000 after purchasing an additional 3,845 shares in the last quarter. Base Wealth Management LLC increased its holdings in shares of Alphabet by 11.0% in the second quarter. Base Wealth Management LLC now owns 1,615 shares of the information services provider’s stock valued at $285,000 after purchasing an additional 160 shares in the last quarter. Milestones Private Investment Advisors LLC bought a new position in Alphabet in the 2nd quarter worth approximately $355,000. Troy Asset Management Ltd lifted its holdings in Alphabet by 32.8% during the 2nd quarter. Troy Asset Management Ltd now owns 3,090,732 shares of the information services provider’s stock worth $544,680,000 after buying an additional 763,225 shares in the last quarter. Finally, American Trust boosted its position in Alphabet by 18.2% in the 2nd quarter. American Trust now owns 24,751 shares of the information services provider’s stock valued at $4,362,000 after buying an additional 3,810 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $308.22 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $3.72 trillion, a PE ratio of 30.40, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The stock has a 50-day moving average of $284.30 and a 200-day moving average of $230.93. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp restated an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Truist Financial set a $350.00 price target on Alphabet and gave the company a “buy” rating in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. China Renaissance upped their target price on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, CIBC raised their target price on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $314.22.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the sale, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at approximately $725,942,020.50. This trade represents a 1.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 222,750 shares of company stock worth $60,496,098. 11.55% of the stock is owned by corporate insiders.

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.