Equitable Trust Co. Sells 6,090 Shares of Alphabet Inc. (NASDAQ:GOOG)

Equitable Trust Co. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 167,162 shares of the information services provider’s stock after selling 6,090 shares during the period. Alphabet makes up approximately 1.8% of Equitable Trust Co.’s holdings, making the stock its 10th biggest holding. Equitable Trust Co.’s holdings in Alphabet were worth $27,948,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB acquired a new stake in shares of Alphabet in the first quarter valued at approximately $1,378,708,000. Capital International Investors raised its holdings in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 242,552 shares of company stock valued at $40,287,253. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.3 %

GOOG stock opened at $179.86 on Friday. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The firm has a 50-day moving average price of $164.92 and a 200-day moving average price of $171.12.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. UBS Group upped their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Company 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.