Global Trust Asset Management LLC Increases Shareholding in Alphabet Inc. (NASDAQ:GOOGL)

Global Trust Asset Management LLC has significantly increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 58.9% in the third quarter, as revealed in its most recent 13F filing with the SEC. The firm now holds 9,740 shares of this information services provider's stock after acquiring an additional 3,609 shares during this period. According to the latest SEC filing, Global Trust Asset Management LLC's holdings in Alphabet are valued at approximately $1,615,000.

Other institutional investors and hedge funds have also adjusted their positions in Alphabet recently. For instance, Vanguard Group Inc. raised its stake by 0.8% during the first quarter, bringing its total ownership to 497,874,324 shares valued at around $75.14 billion after purchasing an additional 4,064,073 shares last quarter. Meanwhile, Capital Research Global Investors expanded its holdings in Alphabet by 14.4%, now owning 57,803,291 shares valued at $8.72 billion after acquiring 7,275,757 additional shares. Bank of New York Mellon Corp also increased its stake by 0.5%, bringing its total ownership to 49,472,478 shares valued at $9.01 billion after buying another 238,403 shares. Further, Capital World Investors increased its position by 1.7%, now owning 35,412,299 shares valued at $5.34 billion with an addition of 597,756 shares. Lastly, American Century Companies Inc. grew its stake by 1.8%, owning 23,465,190 shares worth around $4.27 billion after acquiring an additional 418,204 shares. Overall, institutional investors hold 40.03% of Alphabet's stock.

Recent Performance of Alphabet Stock

On Tuesday, shares of NASDAQ:GOOGL opened at $169.24. The stock has seen a 52-week low of $127.90 and a high of $191.75. Alphabet has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 1.95. Its market capitalization stands at $2.08 trillion, with a price-to-earnings (PE) ratio of 22.45, a price-to-earnings-growth ratio of 1.23, and a beta of 1.03. The firm also has a 50-day simple moving average of $162.49 and a 200-day simple moving average of $169.20.

Furthermore, Alphabet recently released its earnings results on October 29, reporting earnings per share (EPS) of $2.12 for the quarter, surpassing analysts’ expectations of $1.83 by $0.29. The company posted a net margin of 27.74% and a return on equity of 31.66%, alongside revenues of $88.27 billion for the quarter, which significantly exceeded the consensus estimate of $72.85 billion. For comparison, the company earned $1.55 EPS during the same quarter last year. Research analysts project that Alphabet will post an EPS of 7.91 for the current year.

Dividend Announcement from Alphabet

In addition, Alphabet has announced a quarterly dividend to be paid on December 16 for shareholders on record as of December 9. The dividend will amount to $0.20 per share, totaling an annualized payout of $0.80, resulting in a yield of 0.47%. Currently, Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In related insider news, CEO Sundar Pichai sold 22,500 shares of the company on August 7 at an average price of $162.35, amounting to a total transaction of $3,652,875. Post-transaction, he retains ownership of 2,182,385 shares valued at about $354.31 million. This sale did not affect the overall percentage of his ownership. Similarly, CAO Amie Thuener O’toole sold 2,835 shares on September 10 at an average price of $151.53, resulting in a transaction worth $429,587.55. Following this sale, she now directly owns 29,182 shares valued at approximately $4.42 million. Over the last 90 days, insiders sold a total of 232,052 shares worth around $38.09 million, holding 11.55% of the company’s stock.

Brokerage Upgrades and Market Sentiment

Several brokerages recently updated their ratings for Alphabet. Seaport Res Ptn upgraded Alphabet from a “hold” to a “strong buy” rating on October 29. Evercore ISI raised their price target on Alphabet from $200.00 to $205.00, maintaining an “outperform” rating. The Goldman Sachs Group lowered their price target from $217.00 to $208.00 with a “buy” rating, while Wells Fargo & Company also increased its target from $182.00 to $187.00 and rated the company as “equal weight.” Additionally, Scotiabank assigned a “strong buy” rating. Currently, out of a total of 42 analysts, seven rate the stock as a hold, 31 suggest buying, and four offer a strong buy recommendation. According to MarketBeat, Alphabet has an overall consensus rating of “Moderate Buy” and an average price target of $205.51.

About Alphabet Inc.

Alphabet Inc. offers a wide range of products and services globally across various segments, including Google Services, Google Cloud, and Other Bets. Its Google Services segment encompasses popular products such as ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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