Inspire Trust Co. N.A. Has $562,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Inspire Trust Co. N.A. lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 37.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,387 shares of the information services provider’s stock after selling 1,993 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Alphabet were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP acquired a new position in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP bought a new stake in Alphabet during the second quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.1 %

Shares of NASDAQ GOOGL opened at $188.51 on Friday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The firm’s 50-day simple moving average is $173.99 and its 200 day simple moving average is $171.21. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,957 shares of company stock valued at $31,358,687. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $206.69.

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.