Citizens National Bank Trust Department Purchases 367 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Citizens National Bank Trust Department boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 26.8% in the 1st quarter, HoldingsChannel reports. The firm owned 1,737 shares of the information services provider’s stock after acquiring an additional 367 shares during the period. Citizens National Bank Trust Department’s holdings in Alphabet were worth $269,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Wealth Group Ltd. boosted its holdings in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares during the period. Eagle Capital Management LLC lifted its position in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $154,716,000. Finally, Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Truist Financial restated a “buy” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.95.

Alphabet Price Performance

Alphabet stock opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock’s 50 day moving average is $168.70 and its 200 day moving average is $173.97. The firm has a market cap of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the firm posted $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock worth $36,330,928 over the last three months. 11.64% of the stock is currently owned by insiders.

Alphabet 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.