Trust Asset Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,940 shares of the information services provider’s stock after selling 1,374 shares during the period. Alphabet makes up approximately 1.7% of Trust Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Trust Asset Management LLC’s holdings in Alphabet were worth $20,722,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Twelve Points Wealth Management LLC grew its position in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the last quarter. PCG Wealth Advisors LLC increased its stake in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its position in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV raised its stake in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management lifted its stake in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after buying an additional 60 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,673,866 in the last quarter. Company insiders own 12.99% of the company’s stock.
Alphabet Trading Up 1.7 %
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.
Analyst Ratings Changes
Several research analysts have recently weighed in on GOOG shares. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.
View Our Latest Stock Report on GOOG
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.
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