Equitable Trust Co. Has $31.78 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Equitable Trust Co. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,252 shares of the information services provider’s stock after buying an additional 888 shares during the period. Alphabet makes up 2.2% of Equitable Trust Co.’s portfolio, making the stock its 7th biggest position. Equitable Trust Co.’s holdings in Alphabet were worth $31,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new stake in Alphabet in the fourth quarter worth approximately $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter worth $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $34,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at about $34,000. Finally, Hoese & Co LLP grew its holdings in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOG opened at $158.61 on Wednesday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 24.33, a PEG ratio of 1.22 and a beta of 1.05. The stock has a fifty day moving average of $174.24 and a 200-day moving average of $165.65.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,565 shares of company stock valued at $27,043,340. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOG. Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $182.86.

About Alphabet

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.