Alphabet Inc. $GOOGL Shares Acquired by Global Trust Asset Management LLC

Global Trust Asset Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 44.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,955 shares of the information services provider’s stock after acquiring an additional 2,765 shares during the quarter. Alphabet comprises about 1.0% of Global Trust Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Global Trust Asset Management LLC’s holdings in Alphabet were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in shares of Alphabet during the 2nd quarter worth about $21,944,208,000. Laurel Wealth Advisors LLC raised its holdings in Alphabet by 17,667.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after purchasing an additional 15,159,273 shares during the period. Franklin Resources Inc. boosted its position in Alphabet by 51.7% during the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after purchasing an additional 10,843,853 shares in the last quarter. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after purchasing an additional 6,733,278 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Alphabet by 201.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,547,250 shares of the information services provider’s stock valued at $1,153,824,000 after buying an additional 4,374,542 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna increased their target price on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Arete Research lifted their target price on shares of Alphabet from $300.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company restated a “positive” rating and set a $350.00 price target (up previously from $268.00) on shares of Alphabet in a research report on Monday, January 12th. BNP Paribas Exane initiated coverage on shares of Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating and a $355.00 price target on the stock. Finally, Argus boosted their price objective on Alphabet from $330.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Four analysts have rated the stock with a Strong Buy rating, forty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $334.60.

View Our Latest Research Report on GOOGL

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,829 shares of the business’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the transaction, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $312.30, for a total transaction of $867,569.40. Following the sale, the chief accounting officer owned 8,962 shares of the company’s stock, valued at $2,798,832.60. This represents a 23.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 222,297 shares of company stock valued at $68,531,851. 11.55% of the stock is currently owned by insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

NASDAQ:GOOGL opened at $336.01 on Thursday. Alphabet Inc. has a one year low of $140.53 and a one year high of $340.49. The stock has a market cap of $4.05 trillion, a PE ratio of 33.14, a P/E/G ratio of 1.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50 day moving average price of $318.48 and a 200 day moving average price of $263.38.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Profile

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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