Alphabet Inc. $GOOGL Shares Purchased by Charles Schwab Trust Co

Charles Schwab Trust Co raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 434.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,854 shares of the information services provider’s stock after buying an additional 12,888 shares during the quarter. Charles Schwab Trust Co’s holdings in Alphabet were worth $3,854,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Truist Financial Corp raised its holdings in shares of Alphabet by 2.3% during the second quarter. Truist Financial Corp now owns 2,546,012 shares of the information services provider’s stock worth $448,684,000 after purchasing an additional 56,295 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC raised its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the period. Moment Partners LLC lifted its holdings in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after acquiring an additional 504 shares during the last quarter. Finally, Welch Group LLC boosted its stake in Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after acquiring an additional 2,467 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.1%

Alphabet stock opened at $314.06 on Friday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.79 trillion, a P/E ratio of 30.97, a P/E/G ratio of 1.81 and a beta of 1.07. The company’s fifty day simple moving average is $294.39 and its 200-day simple moving average is $237.80.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 226,128 shares of company stock valued at $63,183,331 over the last three months. 11.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price target on Alphabet from $340.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Piper Sandler reissued an “overweight” rating and set a $365.00 price target (up previously from $330.00) on shares of Alphabet in a report on Thursday, December 11th. BMO Capital Markets increased their price objective on shares of Alphabet from $340.00 to $343.00 and gave the stock an “outperform” rating in a report on Tuesday, December 16th. Finally, Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $315.90.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.