Global Trust Asset Management LLC Sells 150 Shares of Alphabet Inc. (NASDAQ:GOOG)

Global Trust Asset Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,701 shares of the information services provider’s stock after selling 150 shares during the quarter. Alphabet makes up about 1.4% of Global Trust Asset Management LLC’s holdings, making the stock its 13th largest position. Global Trust Asset Management LLC’s holdings in Alphabet were worth $2,297,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bell Bank grew its stake in Alphabet by 11.8% in the 1st quarter. Bell Bank now owns 36,594 shares of the information services provider’s stock valued at $5,717,000 after purchasing an additional 3,868 shares during the period. Rakuten Securities Inc. boosted its holdings in shares of Alphabet by 10.5% in the 1st quarter. Rakuten Securities Inc. now owns 7,657 shares of the information services provider’s stock worth $1,196,000 after buying an additional 729 shares during the last quarter. Demars Financial Group LLC grew its position in Alphabet by 73.5% during the first quarter. Demars Financial Group LLC now owns 811,927 shares of the information services provider’s stock valued at $126,847,000 after buying an additional 344,016 shares during the period. Bfsg LLC grew its position in Alphabet by 1.1% during the first quarter. Bfsg LLC now owns 52,342 shares of the information services provider’s stock valued at $8,177,000 after buying an additional 550 shares during the period. Finally, RS Crum Inc. increased its holdings in Alphabet by 5.4% during the first quarter. RS Crum Inc. now owns 1,866 shares of the information services provider’s stock worth $292,000 after buying an additional 96 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.4%

Shares of Alphabet stock opened at $177.23 on Wednesday. The company’s 50-day moving average price is $165.52 and its 200-day moving average price is $176.44. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.15 trillion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Citigroup reiterated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

About Alphabet

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.