Global Trust Asset Management LLC Sells 335 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Global Trust Asset Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 66.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166 shares of the information services provider’s stock after selling 335 shares during the period. Global Trust Asset Management LLC’s holdings in Alphabet were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dravo Bay LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $28,000. Financial Enhancement Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $31,000. Wealthgate Family Office LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $32,000. Verity Asset Management Inc. raised its position in Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after buying an additional 589,827 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after buying an additional 8 shares during the last quarter. Institutional investors own 1.88% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $100.14 on Friday. The business has a fifty day simple moving average of $111.79 and a 200 day simple moving average of $117.82. The company has a market capitalization of $1.31 trillion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09. Alphabet Inc. has a 1 year low of $98.79 and a 1 year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The firm had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter last year, the firm earned $27.26 earnings per share. Research analysts expect that Alphabet Inc. will post 5.21 EPS for the current year.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the sale, the director now directly owns 33,260 shares in the company, valued at approximately $3,658,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the sale, the director now directly owns 33,260 shares in the company, valued at approximately $3,658,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now owns 18,484 shares of the company’s stock, valued at $2,185,733. The disclosure for this sale can be found here. In the last three months, insiders sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOOGL shares. MKM Partners dropped their target price on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Piper Sandler dropped their target price on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Mizuho dropped their target price on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Exane BNP Paribas lowered Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Itaú Unibanco assumed coverage on Alphabet in a research report on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 target price on the stock. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.