Trust Asset Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 121,609 shares of the information services provider's stock after selling 2,331 shares during the period. Alphabet makes up approximately 1.6% of Trust Asset Management LLC's holdings, making the stock its 9th biggest holding. Trust Asset Management LLC's holdings in Alphabet were worth $18,999,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $2,622,943,000. GAMMA Investing LLC raised its holdings in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on GOOG. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Roth Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $215.19.
View Our Latest Stock Report on GOOG
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 12.99% of the company's stock.
Alphabet Trading Up 2.4%
Shares of Alphabet stock opened at $202.11 on Monday. The firm has a 50-day moving average of $181.90 and a 200-day moving average of $174.35. The stock has a market cap of $2.44 trillion, a PE ratio of 21.52, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Alphabet Company Profile
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Free Report)
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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