First National Bank of Mount Dora Trust Investment Services Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

First National Bank of Mount Dora Trust Investment Services trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,509 shares of the information services provider’s stock after selling 3,395 shares during the period. Alphabet accounts for 1.3% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 27th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Alphabet were worth $5,602,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the second quarter worth approximately $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $170.68 on Tuesday. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 22.64, a P/E/G ratio of 1.22 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The business has a fifty day simple moving average of $163.87 and a two-hundred day simple moving average of $170.72.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock valued at $38,086,723 over the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

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.