Alphabet Inc. $GOOG Stock Holdings Decreased by Thomasville National Bank

Key Points

• Thomasville National Bank reduced its stake in Alphabet Inc. by 1.3%, selling 3,951 shares, and now holds 299,622 shares worth approximately $53.15 million.
• Insider selling increased recently, with key figures like Director John L. Hennessy reducing their stakes significantly, indicating potential shifts in management confidence.
• Alphabet announced a quarterly dividend of $0.21, implying a low dividend yield of 0.3%, while the company recently reported a net margin of 31.12% and revenue growth of 13.8% year-over-year.

Thomasville National Bank decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,622 shares of the information services provider's stock after selling 3,951 shares during the period. Alphabet makes up 3.6% of Thomasville National Bank's investment portfolio, making the stock its 6th largest holding. Thomasville National Bank's holdings in Alphabet were worth $53,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. LongView Wealth Management increased its holdings in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after buying an additional 56 shares during the period. NCM Capital Management LLC raised its stake in shares of Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after acquiring an additional 60 shares in the last quarter. Legacy Private Trust Co. boosted its holdings in Alphabet by 0.6% in the second quarter. Legacy Private Trust Co. now owns 9,956 shares of the information services provider's stock valued at $1,766,000 after acquiring an additional 60 shares in the last quarter. Faithward Advisors LLC raised its position in Alphabet by 2.5% in the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock worth $391,000 after buying an additional 61 shares during the last quarter. Finally, SK Wealth Management LLC boosted its stake in Alphabet by 4.4% in the 2nd quarter. SK Wealth Management LLC now owns 1,436 shares of the information services provider's stock worth $255,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock traded up $2.91 on Friday, hitting $255.24. The company's stock had a trading volume of 41,503,403 shares, compared to its average volume of 25,284,148. The firm has a market cap of $3.09 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $210.08 and a 200-day moving average price of $181.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. JPMorgan Chase & Co. raised their price objective on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 12.99% of the company's stock.

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.