Global Trust Wealth Management LLC Purchases Shares of 5,760 Alphabet Inc. $GOOGL

Key Points

• Global Trust Wealth Management LLC opened a new position in Alphabet, buying 5,760 shares valued at about $1.8 million in the fourth quarter. Alphabet now makes up roughly 1.3% of the firm’s portfolio.
• Alphabet’s latest earnings beat expectations, reporting $5.11 EPS versus estimates of $2.64 and revenue of $109.9 billion versus forecasts of $106.98 billion. Analysts still see more upside, with several raising price targets and the consensus rating sitting at Moderate Buy.
• The company also raised its quarterly dividend to $0.22 per share, up from $0.21, while insider trading data showed several executives and directors selling shares in recent weeks.

Global Trust Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,760 shares of the information services provider's stock, valued at approximately $1,803,000. Alphabet accounts for approximately 1.3% of Global Trust Wealth Management LLC's portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. CIBC Bancorp USA Inc. bought a new stake in Alphabet in the 3rd quarter valued at about $416,217,000. Sovran Advisors LLC increased its holdings in shares of Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock worth $5,401,000 after purchasing an additional 4,241 shares during the period. Wright Investors Service Inc. raised its position in shares of Alphabet by 21.2% in the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock valued at $12,171,000 after buying an additional 8,746 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Alphabet by 3.8% in the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock valued at $405,131,000 after buying an additional 60,831 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of Alphabet by 5.4% in the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock valued at $17,652,000 after buying an additional 3,740 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $400.69 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52 week low of $152.20 and a 52 week high of $402.00. The stock has a market capitalization of $4.85 trillion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The stock has a fifty day moving average of $318.66 and a 200-day moving average of $311.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, sell-side analysts expect that Alphabet Inc. will post 14.01 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is 6.41%.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the transaction, the director owned 18,621 shares of the company's stock, valued at approximately $6,908,391. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 158,553 shares of company stock worth $47,951,856 in the last quarter. Corporate insiders own 11.61% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Alphabet from $330.00 to $375.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. BMO Capital Markets upped their target price on Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. DZ Bank reissued a "buy" rating on shares of Alphabet in a report on Monday, February 16th. DA Davidson raised their price target on Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $407.86.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.