American Trust boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 156.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,429 shares of the information services provider's stock after acquiring an additional 14,886 shares during the quarter. American Trust's holdings in Alphabet were worth $4,052,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after buying an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC grew its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock valued at $771,000 after purchasing an additional 190 shares during the period. Landscape Capital Management L.L.C. increased its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc raised its stake in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. boosted its holdings in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock worth $3,567,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. KeyCorp lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $206.69.
Get Our Latest Stock Report on Alphabet
Alphabet Stock Performance
GOOGL traded up $2.90 during trading on Friday, hitting $191.41. The company's stock had a trading volume of 62,697,719 shares, compared to its average volume of 27,725,518. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The business's 50 day simple moving average is $173.99 and its 200-day simple moving average is $171.21. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.34 trillion, a PE ratio of 25.39, a P/E/G ratio of 1.39 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet's dividend payout ratio is presently 10.61%.
Insider Activity
In other Alphabet news, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 178,957 shares of company stock worth $31,358,687 over the last ninety days. Corporate insiders own 11.55% of the company's stock.
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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