Trustmark Bank Trust Department Has $6.30 Million Stock Position in Alphabet Inc. $GOOG

Trustmark Bank Trust Department cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,520 shares of the information services provider’s stock after selling 429 shares during the quarter. Trustmark Bank Trust Department’s holdings in Alphabet were worth $6,301,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the 2nd quarter valued at approximately $4,298,572,000. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $2,622,943,000. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.1%

Shares of Alphabet stock opened at $319.95 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The firm has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s fifty day moving average price is $269.82 and its two-hundred day moving average price is $219.97.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Sanford C. Bernstein raised their price target on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. KeyCorp restated an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $304.62.

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.