Global Trust Asset Management LLC Sells 4,836 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Global Trust Asset Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 44.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,052 shares of the information services provider's stock after selling 4,836 shares during the quarter. Global Trust Asset Management LLC's holdings in Alphabet were worth $936,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the 4th quarter valued at about $30,000. PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $49,000. Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,070 shares of company stock valued at $37,745,632. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

GOOGL stock traded down $6.68 during midday trading on Friday, hitting $166.64. 75,073,701 shares of the company traded hands, compared to its average volume of 30,699,179. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $164.77 and a 200-day simple moving average of $174.71. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the business earned $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOOGL. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

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.