Alphabet Inc. $GOOG Holdings Lowered by Trustmark Bank Trust Department

by · The Markets Daily

Trustmark Bank Trust Department lowered its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,520 shares of the information services provider’s stock after selling 429 shares during the quarter. Trustmark Bank Trust Department’s holdings in Alphabet were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley boosted its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its stake in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC grew its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, University of Illinois Foundation acquired a new stake in Alphabet during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOG shares. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Pivotal Research increased their price objective on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Scotiabank set a $336.00 target price on Alphabet and gave the company a “sector outperform” rating in a report on Thursday, October 30th. Finally, BNP Paribas initiated coverage on shares of Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $304.62.

Get Our Latest Stock Analysis on Alphabet

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,850 shares of company stock worth $58,874,814 in the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $319.95 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The stock’s 50-day moving average is $269.82 and its two-hundred day moving average is $219.97. 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 firm has a market cap of $3.86 trillion, a P/E ratio of 31.55, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

About Alphabet

(Free Report)

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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