Alphabet Inc. (NASDAQ:GOOG) is Community Trust & Investment Co.’s 5th Largest Position

Community Trust & Investment Co. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 402,460 shares of the information services provider’s stock after purchasing an additional 5,873 shares during the quarter. Alphabet comprises approximately 4.7% of Community Trust & Investment Co.’s portfolio, making the stock its 5th biggest holding. Community Trust & Investment Co.’s holdings in Alphabet were worth $76,644,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sunburst Financial Group LLC increased its stake in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. Johnson Financial Group LLC lifted its stake in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after purchasing an additional 60 shares during the period. Phillips Financial Management LLC increased its position in Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after purchasing an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC raised its holdings in Alphabet by 2.3% in the third quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 over the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Up 3.1 %

NASDAQ:GOOG opened at $196.98 on Thursday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.41 trillion, a PE ratio of 26.12, a P/E/G ratio of 1.34 and a beta of 0.99. The business’s 50 day moving average is $184.95 and its two-hundred day moving average is $174.55.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.