Trust Co of the South Sells 879 Shares of Alphabet Inc. (NASDAQ:GOOG)

Trust Co of the South lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,367 shares of the information services provider’s stock after selling 879 shares during the quarter. Trust Co of the South’s holdings in Alphabet were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOG. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $165.67.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.4 %

Shares of NASDAQ:GOOG opened at $180.26 on Friday. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a fifty day moving average of $171.61 and a 200 day moving average of $153.81. The firm has a market capitalization of $2.23 trillion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.