Trust Asset Management LLC Has $17.71 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Trust Asset Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 125,692 shares of the information services provider’s stock after selling 2,732 shares during the quarter. Alphabet comprises about 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 $17,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the 4th quarter worth $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the 4th quarter worth $28,000. Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $32,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Alphabet during the 3rd quarter worth $32,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOG shares. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock valued at $36,746,578. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $173.69 on Friday. The stock has a market cap of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The business has a fifty day simple moving average of $149.12 and a 200-day simple moving average of $142.75. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Alphabet Profile

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.