Trust Investment Advisors Has $2.15 Million Stake in Alphabet Inc. $GOOG

Trust Investment Advisors reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,092 shares of the information services provider’s stock after selling 435 shares during the quarter. Alphabet comprises 1.3% of Trust Investment Advisors’ portfolio, making the stock its 16th biggest holding. Trust Investment Advisors’ holdings in Alphabet were worth $2,145,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Revisor Wealth Management LLC increased its position in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares during the period. Golden State Wealth Management LLC raised its stake in Alphabet by 6.2% during the 1st quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock valued at $1,587,000 after purchasing an additional 594 shares during the last quarter. Arbor Capital Management Inc. ADV acquired a new position in Alphabet during the 1st quarter valued at $239,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 14.3% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 1,031 shares of the information services provider’s stock valued at $161,000 after purchasing an additional 129 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOG. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Oppenheimer boosted their price target on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the company a “neutral” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 2.4%

NASDAQ GOOG opened at $281.90 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $243.09 and its two-hundred day moving average is $199.85. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.