First National Trust Co Has $43.35 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

First National Trust Co decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 280,307 shares of the information services provider's stock after selling 11,330 shares during the period. Alphabet comprises approximately 1.7% of First National Trust Co's investment portfolio, making the stock its 12th biggest holding. First National Trust Co's holdings in Alphabet were worth $43,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $28,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter valued at about $39,000. Finally, Elite Financial Inc. bought a new position in Alphabet during the first quarter worth about $42,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.7%

Shares of NASDAQ:GOOGL opened at $196.09 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business's 50-day moving average is $179.76 and its 200-day moving average is $173.12. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,219 shares of company stock valued at $49,474,273. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Wedbush increased their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Westpark Capital lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, JMP Securities increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

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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