First National Trust Co Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

First National Trust Co decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,430 shares of the information services provider’s stock after selling 172 shares during the quarter. First National Trust Co’s holdings in Alphabet were worth $3,891,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at about $27,000. Weiss Asset Management LP purchased a new position in Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC purchased a new position in Alphabet during the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. grew its stake in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 in the last three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Up 1.8 %

GOOG opened at $167.62 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day simple moving average of $187.41 and a 200-day simple moving average of $177.92. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $141.13 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

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.