Capital City Trust Co. FL Sells 2,392 Shares of Alphabet Inc. $GOOGL

Capital City Trust Co. FL lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,632 shares of the information services provider’s stock after selling 2,392 shares during the quarter. Alphabet accounts for approximately 2.9% of Capital City Trust Co. FL’s holdings, making the stock its 8th largest holding. Capital City Trust Co. FL’s holdings in Alphabet were worth $11,038,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC raised its stake in Alphabet by 10.5% during the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after buying an additional 9,900 shares during the period. Smithbridge Asset Management Inc. DE acquired a new stake in Alphabet during the 1st quarter worth $6,746,000. Finally, Lynch Asset Management Inc. raised its stake in Alphabet by 0.4% during the 1st quarter. Lynch Asset Management Inc. now owns 71,000 shares of the information services provider’s stock worth $10,979,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock valued at $59,062,683 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $236.57 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $226.31 and its 200 day simple moving average is $188.84. The company has a market cap of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOGL shares. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Thursday. UBS Group lifted their price target on Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday. Roth Capital lifted their price target on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Finally, JMP Securities lifted their price target on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.88.

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.