Citizens National Bank Trust Department Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Citizens National Bank Trust Department cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,225 shares of the information services provider’s stock after selling 789 shares during the quarter. Alphabet comprises about 3.5% of Citizens National Bank Trust Department’s holdings, making the stock its 2nd biggest holding. Citizens National Bank Trust Department’s holdings in Alphabet were worth $16,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Twelve Points Wealth Management LLC grew its position in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares during the period. PCG Wealth Advisors LLC grew its stake in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV grew its stake in shares of Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV increased its holdings in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its stake in Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, 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. In the last three months, insiders sold 230,244 shares of company stock valued at $37,776,954. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Down 0.0 %

NASDAQ GOOG opened at $172.65 on Monday. Alphabet Inc. has a 52 week low of $128.11 and a 52 week high of $193.31. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.24 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $163.81 and a two-hundred day moving average of $170.63.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend 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 is 10.61%.

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.