Moody National Bank Trust Division Decreases Position in Alphabet Inc. $GOOG

Key Points

• Moody National Bank Trust Division reduced its stake in Alphabet Inc. by 4.4% during the 2nd quarter, now holding 43,622 shares worth approximately $7.74 million.
• Insider trading activity has been notable, with CEO Sundar Pichai selling 32,500 shares for over $8 million, representing a 1.34% decrease in his ownership.
• Alphabet has recently announced a quarterly dividend of $0.21 per share, which contributes to a 0.3% dividend yield based on current prices.

Moody National Bank Trust Division lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,622 shares of the information services provider's stock after selling 1,996 shares during the period. Alphabet makes up about 0.7% of Moody National Bank Trust Division's portfolio, making the stock its 24th biggest holding. Moody National Bank Trust Division's holdings in Alphabet were worth $7,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principia Wealth Advisory LLC raised its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the 1st quarter worth $32,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the 1st quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $255.24 on Friday. The business's 50-day moving average is $210.08 and its two-hundred day moving average is $181.61. The company has a market capitalization of $3.09 trillion, a P/E ratio of 27.18, a P/E/G ratio of 1.70 and a beta of 1.01. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Pivotal Research raised their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $227.56.

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.

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