Equitable Trust Co. Has $31.81 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Equitable Trust Co. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,033 shares of the information services provider’s stock after selling 129 shares during the quarter. Alphabet makes up 1.8% of Equitable Trust Co.’s portfolio, making the stock its 9th largest holding. Equitable Trust Co.’s holdings in Alphabet were worth $31,810,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. FMR LLC lifted its holdings in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 65.9% during 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 acquiring an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $187.88 on Friday. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 23.34, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The business has a 50-day moving average of $193.89 and a 200-day moving average of $176.47. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.