First Community Trust NA Reduces Position in Alphabet Inc. $GOOGL

Key Points

• First Community Trust NA has reduced its position in Alphabet Inc. by 9.7%, now holding 18,189 shares valued at approximately $3.2 million, making it the 8th largest position in their portfolio.
• The company declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.3%, which will be paid on September 15th to investors of record on September 8th.
• Alphabet's stock has experienced significant interest, with multiple institutional investors adjusting their holdings, and research analysts generally rating the stock as a "Moderate Buy."

First Community Trust NA lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,189 shares of the information services provider's stock after selling 1,950 shares during the quarter. Alphabet makes up about 2.6% of First Community Trust NA's portfolio, making the stock its 8th biggest position. First Community Trust NA's holdings in Alphabet were worth $3,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Insight Wealth Strategies LLC grew its stake in Alphabet by 1.3% in the second quarter. Insight Wealth Strategies LLC now owns 30,776 shares of the information services provider's stock worth $5,412,000 after purchasing an additional 401 shares in the last quarter. Dominguez Wealth Management Solutions Inc. boosted its position in Alphabet by 33.4% during the 2nd quarter. Dominguez Wealth Management Solutions Inc. now owns 2,019 shares of the information services provider's stock valued at $356,000 after acquiring an additional 505 shares in the last quarter. Ables Iannone Moore & Associates Inc. boosted its position in Alphabet by 0.5% during the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 63,096 shares of the information services provider's stock valued at $11,119,000 after acquiring an additional 303 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Alphabet by 11.2% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 21,983 shares of the information services provider's stock valued at $3,874,000 after acquiring an additional 2,214 shares in the last quarter. Finally, Centurion Wealth Management LLC boosted its position in Alphabet by 2.5% during the 2nd quarter. Centurion Wealth Management LLC now owns 8,853 shares of the information services provider's stock valued at $1,560,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last 90 days. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $240.80 on Friday. The stock has a 50-day simple moving average of $201.89 and a two-hundred day simple moving average of $177.51. The firm has a market capitalization of $2.91 trillion, a P/E ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $242.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Ratings Changes

Several research analysts recently commented on GOOGL shares. DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Wells Fargo & Company raised their price objective on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. BMO Capital Markets raised their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.44.

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.

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