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

First National Bank of Mount Dora Trust Investment Services grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 68.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,236 shares of the information services provider's stock after buying an additional 22,445 shares during the quarter. Alphabet accounts for 2.1% of First National Bank of Mount Dora Trust Investment Services' holdings, making the stock its 15th largest holding. First National Bank of Mount Dora Trust Investment Services' holdings in Alphabet were worth $8,630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC boosted its holdings in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Harvest Investment Services LLC raised its stake in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new position in shares of Alphabet during the fourth quarter valued at about $281,000. Finally, Fermata Advisors LLC boosted its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG traded up $2.38 during trading hours on Tuesday, reaching $180.01. 32,875,878 shares of the company were exchanged, compared to its average volume of 20,432,694. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.18 trillion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock's 50-day moving average is $162.26 and its 200-day moving average is $176.17.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOG. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Scotiabank reduced their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $204.88.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock valued at $32,036,638 over the last ninety days. Insiders own 12.99% of the company's stock.

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.