Greenleaf Trust Acquires 17,851 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Greenleaf Trust raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,787 shares of the information services provider’s stock after acquiring an additional 17,851 shares during the quarter. Alphabet comprises approximately 0.4% of Greenleaf Trust’s portfolio, making the stock its 17th biggest holding. Greenleaf Trust’s holdings in Alphabet were worth $47,398,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Capital Research Global Investors boosted its holdings in 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 valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Wulff Hansen & CO. grew its position in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America lifted their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup boosted their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.29 on Friday. The business has a fifty day simple moving average of $162.43 and a two-hundred day simple moving average of $169.01. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $126.93 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the company posted $1.55 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the 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 sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.