First National Bank of Mount Dora Trust Investment Services Has $8.63 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

First National Bank of Mount Dora Trust Investment Services lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 68.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,236 shares of the information services provider’s stock after acquiring an additional 22,445 shares during the period. Alphabet makes up approximately 2.1% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 15th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Alphabet were worth $8,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOG. Cassaday & Co Wealth Management LLC raised its stake in Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock worth $5,341,000 after buying an additional 2,390 shares during the period. LaFleur & Godfrey LLC increased its holdings in shares of Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet during the fourth quarter worth about $204,262,000. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of Alphabet by 246.2% during the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 4,052 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $177.63 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average price is $162.26 and its two-hundred day moving average price is $176.17. The company has a market cap of $2.16 trillion, a PE ratio of 22.07, a price-to-earnings-growth 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.

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, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. KeyCorp lowered their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.