Renasant Bank Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Renasant Bank lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,364 shares of the information services provider’s stock after selling 790 shares during the period. Alphabet comprises approximately 1.0% of Renasant Bank’s investment portfolio, making the stock its 26th largest position. Renasant Bank’s holdings in Alphabet were worth $1,583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Permanent Capital Management LP bought a new position in shares of Alphabet in the fourth quarter worth approximately $273,000. Landscape Capital Management L.L.C. increased its stake in shares of Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the period. Glass Wealth Management Co LLC raised its holdings in Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after buying an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC boosted its position in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.7 %

Shares of NASDAQ:GOOGL opened at $170.56 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a market cap of $2.08 trillion, a P/E ratio of 21.19, a PEG ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average price is $181.72 and its 200-day moving average price is $176.86.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 in the last three months. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. DA Davidson raised their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Wedbush boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.59.

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.