Moody National Bank Trust Division Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Moody National Bank Trust Division trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,618 shares of the information services provider’s stock after selling 238 shares during the quarter. Alphabet accounts for about 0.7% of Moody National Bank Trust Division’s portfolio, making the stock its 22nd largest position. Moody National Bank Trust Division’s holdings in Alphabet were worth $7,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter worth $27,000. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the 4th quarter worth about $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,533 shares of company stock valued at $26,772,774. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $172.96 on Friday. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.49, a PEG 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 company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $160.92 and a 200 day moving average of $176.39.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOG shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research 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 given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $203.94.

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.