AMG National Trust Bank Sells 12,747 Shares of Alphabet Inc. (NASDAQ:GOOG)

AMG National Trust Bank trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,897 shares of the information services provider’s stock after selling 12,747 shares during the quarter. AMG National Trust Bank’s holdings in Alphabet were worth $11,017,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC grew its holdings in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC increased its stake in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its stake in Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares in the last quarter. Finally, Shira Ridge Wealth Management increased its stake in Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,471,141. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $173.89 on Monday. The stock has a fifty day moving average of $167.01 and a 200 day moving average of $171.74. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.22 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOG shares. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $200.56.

About Alphabet

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.