New Covenant Trust Company N.A. Sells 79 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Covenant Trust Company N.A. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,011 shares of the information services provider’s stock after selling 79 shares during the quarter. Alphabet accounts for approximately 0.8% of New Covenant Trust Company N.A.’s investment portfolio, making the stock its 24th biggest holding. New Covenant Trust Company N.A.’s holdings in Alphabet were worth $822,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GOOGL. International Assets Investment Management LLC lifted its position in shares of Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors raised its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. raised its holdings in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $172.49 on Friday. 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 company has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. The firm has a fifty day simple moving average of $165.18 and a two-hundred day simple moving average of $170.08. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Morgan Stanley lifted their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

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.