First National Bank of Mount Dora Trust Investment Services Increases Stock Position in Alphabet Inc. $GOOG

First National Bank of Mount Dora Trust Investment Services raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,177 shares of the information services provider’s stock after buying an additional 1,941 shares during the quarter. Alphabet comprises approximately 2.3% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 12th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Alphabet were worth $10,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Alphabet by 6.5% during the second quarter. Nordea Investment Management AB now owns 7,709,452 shares of the information services provider’s stock valued at $1,368,736,000 after buying an additional 473,783 shares during the last quarter. TFC Financial Management Inc. grew its holdings in shares of Alphabet by 3.4% during the second quarter. TFC Financial Management Inc. now owns 4,436 shares of the information services provider’s stock valued at $787,000 after buying an additional 145 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of Alphabet during the second quarter valued at approximately $57,000. Barlow Wealth Partners Inc. grew its holdings in shares of Alphabet by 1.0% during the second quarter. Barlow Wealth Partners Inc. now owns 264,270 shares of the information services provider’s stock valued at $47,505,000 after buying an additional 2,564 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management grew its holdings in shares of Alphabet by 8.7% during the second quarter. Werba Rubin Papier Wealth Management now owns 13,331 shares of the information services provider’s stock valued at $2,365,000 after buying an additional 1,072 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8%

Shares of Alphabet stock opened at $253.79 on Monday. The company has a market cap of $3.07 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company’s 50 day moving average is $232.18 and its 200 day moving average is $193.25. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,372 shares of company stock valued at $55,110,740 over the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Pivotal Research increased their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Robert W. Baird increased their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $244.68.

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.