Renasant Bank Sells 98 Shares of Alphabet Inc. (NASDAQ:GOOG)

Renasant Bank reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 4th quarter, Holdings Channel reports. The fund owned 4,581 shares of the information services provider’s stock after selling 98 shares during the quarter. Renasant Bank’s holdings in Alphabet were worth $872,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GOOG. Sterling Financial Planning Inc. raised its holdings in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares during the last quarter. Arlington Trust Co LLC lifted its position in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares in the last quarter. Harrell Investment Partners LLC grew its stake in shares of Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC increased its holdings in shares of Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after purchasing an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its position in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.5 %

Shares of Alphabet stock opened at $164.73 on Friday. The firm has a market cap of $2.01 trillion, a PE ratio of 20.46, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $141.13 and a 52-week high of $208.70. The business’s 50 day simple moving average is $187.92 and its 200 day simple moving average is $177.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,882 shares of company stock worth $17,934,130 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.