Inspire Trust Co. N.A. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 57.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,180 shares of the information services provider’s stock after buying an additional 11,680 shares during the quarter. Alphabet accounts for approximately 1.2% of Inspire Trust Co. N.A.’s investment portfolio, making the stock its 20th biggest holding. Inspire Trust Co. N.A.’s holdings in Alphabet were worth $5,027,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Waypoint Wealth Partners Inc. lifted its position in shares of Alphabet by 7.7% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 18,050 shares of the information services provider’s stock worth $2,820,000 after buying an additional 1,292 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Alphabet by 5.3% during the 1st quarter. Oak Ridge Investments LLC now owns 235,446 shares of the information services provider’s stock worth $36,784,000 after purchasing an additional 11,810 shares during the last quarter. OneAscent Investment Solutions LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $244,000. Vestmark Advisory Solutions Inc. increased its stake in shares of Alphabet by 49.0% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 23,889 shares of the information services provider’s stock worth $3,732,000 after purchasing an additional 7,856 shares during the last quarter. Finally, Holderness Investments Co. increased its stake in shares of Alphabet by 0.9% during the 1st quarter. Holderness Investments Co. now owns 20,177 shares of the information services provider’s stock worth $3,152,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The transaction 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 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,219 shares of company stock valued at $49,674,273. Company insiders own 12.99% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Alphabet stock opened at $203.03 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.46 trillion, a PE ratio of 21.62, a P/E/G ratio of 1.36 and a beta of 1.02. The firm has a fifty day simple moving average of $183.93 and a two-hundred day simple moving average of $174.75. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.
Alphabet 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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