Inspire Trust Co. N.A. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Inspire Trust Co. N.A. increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 32.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,000 shares of the information services provider's stock after purchasing an additional 4,648 shares during the period. Inspire Trust Co. N.A.'s holdings in Alphabet were worth $3,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after acquiring an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet in the 3rd quarter worth $33,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the second quarter worth $37,000. Finally, HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter valued at $40,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG traded down $2.25 during trading on Friday, reaching $191.38. The company's stock had a trading volume of 18,867,616 shares, compared to its average volume of 19,662,195. Alphabet Inc. has a 12 month low of $131.06 and a 12 month high of $196.89. The firm has a 50 day moving average price of $172.74 and a 200 day moving average price of $172.12. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. 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:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a "hold" rating in a research report on Thursday, September 5th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a "hold" rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $200.56.

Read Our Latest Research Report on Alphabet

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares of the company's stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company's stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,123 shares of company stock worth $34,121,676. Company insiders own 12.99% 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.

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