Charles Schwab Trust Co Sells 981 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Charles Schwab Trust Co lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,946 shares of the information services provider’s stock after selling 981 shares during the period. Charles Schwab Trust Co’s holdings in Alphabet were worth $1,126,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its position in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $200.21 on Friday. The stock has a fifty day simple moving average of $186.46 and a two-hundred day simple moving average of $173.80. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The firm has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, Truist Financial boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.44.

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.