AMG National Trust Bank Has $10.38 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

AMG National Trust Bank cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 62,569 shares of the information services provider’s stock after selling 8,233 shares during the quarter. AMG National Trust Bank’s holdings in Alphabet were worth $10,377,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Alphabet by 70.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock worth $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC lifted its position in Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after buying an additional 1,072 shares in the last quarter. Hancock Whitney Corp boosted its position in Alphabet by 1.9% during the first quarter. Hancock Whitney Corp now owns 420,126 shares of the information services provider’s stock valued at $63,410,000 after purchasing an additional 7,677 shares during the last quarter. Semmax Financial Advisors Inc. grew its stake in Alphabet by 18.2% in the first quarter. Semmax Financial Advisors Inc. now owns 28,633 shares of the information services provider’s stock valued at $4,322,000 after purchasing an additional 4,405 shares in the last quarter. Finally, Beacon Capital Management LLC grew its stake in shares of Alphabet by 1.9% in the first quarter. Beacon Capital Management LLC now owns 11,215 shares of the information services provider’s stock valued at $1,693,000 after buying an additional 205 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2 %

Alphabet stock opened at $168.95 on Monday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The firm has a 50 day moving average price of $168.47 and a two-hundred day moving average price of $170.31.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.