New Covenant Trust Company N.A. Has $863,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

New Covenant Trust Company N.A. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 49.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,220 shares of the information services provider’s stock after acquiring an additional 1,732 shares during the quarter. Alphabet accounts for about 0.8% of New Covenant Trust Company N.A.’s holdings, making the stock its 22nd biggest position. New Covenant Trust Company N.A.’s holdings in Alphabet were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Swedbank AB bought a new position in Alphabet during the 1st quarter valued at $1,378,708,000. Capital International Investors lifted its stake in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after acquiring an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $172.65 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $128.11 and a fifty-two week high of $193.31. The stock has a market cap of $2.13 trillion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The stock has a fifty day moving average of $163.81 and a 200-day moving average of $170.53.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current 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 given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,244 shares of company stock valued at $37,776,954. 12.99% of the stock is owned by corporate insiders.

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.