Global Trust Asset Management LLC Has $687,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Global Trust Asset Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 49.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,551 shares of the information services provider’s stock after purchasing an additional 1,510 shares during the period. Global Trust Asset Management LLC’s holdings in Alphabet were worth $687,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP lifted its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Armor Investment Advisors LLC boosted its holdings in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its position in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Susquehanna lifted their target price on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Wedbush upped their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Evercore ISI lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Finally, Bank of America restated a “buy” rating and set a $200.00 target price on shares of Alphabet in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $179.22 on Tuesday. The stock has a 50 day simple moving average of $170.54 and a 200 day simple moving average of $153.02. The stock has a market cap of $2.21 trillion, a P/E ratio of 27.49, a PEG ratio of 1.35 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $180.89. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business earned $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock valued at $26,375,053 in the last quarter. Company insiders own 11.55% of the company’s stock.

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.