Equitable Trust Co. Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Equitable Trust Co. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,675 shares of the information services provider’s stock after selling 12,398 shares during the period. Alphabet makes up about 3.8% of Equitable Trust Co.’s portfolio, making the stock its 3rd biggest position. Equitable Trust Co.’s holdings in Alphabet were worth $55,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Game Plan Financial Advisors LLC grew its holdings in shares of Alphabet by 18.5% in the second quarter. Game Plan Financial Advisors LLC now owns 2,150 shares of the information services provider’s stock worth $392,000 after purchasing an additional 335 shares during the last quarter. Waterfront Wealth Inc. boosted its position in Alphabet by 1.2% in the 2nd quarter. Waterfront Wealth Inc. now owns 28,769 shares of the information services provider’s stock valued at $5,240,000 after buying an additional 338 shares during the period. D.A. Davidson & CO. grew its stake in Alphabet by 4.8% in the 2nd quarter. D.A. Davidson & CO. now owns 427,320 shares of the information services provider’s stock worth $77,836,000 after acquiring an additional 19,423 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Alphabet by 22.1% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 319,647 shares of the information services provider’s stock worth $58,224,000 after acquiring an additional 57,792 shares during the period. Finally, Consolidated Portfolio Review Corp raised its stake in shares of Alphabet by 213.1% during the second quarter. Consolidated Portfolio Review Corp now owns 22,812 shares of the information services provider’s stock valued at $4,155,000 after acquiring an additional 15,525 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $157.46 on Friday. 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’s 50-day simple moving average is $167.46 and its 200 day simple moving average is $164.67. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the business posted $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,367 shares of company stock worth $30,016,931. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOGL. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Loop Capital restated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald initiated coverage on Alphabet in a report on Thursday, September 5th. They set a “neutral” rating and a $190.00 target price for the company. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

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.