OLD Point Trust & Financial Services N A Has $3.26 Million Position in Alphabet Inc. $GOOGL

Key Points

• OLD Point Trust & Financial Services N A increased its position in Alphabet Inc. by 6.6%, bringing its total holdings to 18,500 shares valued at $3.26 million.
• Insider transactions at Alphabet included CEO Sundar Pichai selling 32,500 shares for approximately $7.91 million, which marked a 1.33% decrease in his ownership.
• Alphabet recently declared a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

OLD Point Trust & Financial Services N A boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,500 shares of the information services provider's stock after buying an additional 1,150 shares during the period. Alphabet makes up about 1.3% of OLD Point Trust & Financial Services N A's investment portfolio, making the stock its 26th biggest position. OLD Point Trust & Financial Services N A's holdings in Alphabet were worth $3,260,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter worth $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last quarter. Insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $245.76 on Wednesday. The company has a fifty day moving average price of $223.41 and a two-hundred day moving average price of $187.13. 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 stock has a market cap of $2.97 trillion, a P/E ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

Several research firms have weighed in on GOOGL. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Guggenheim increased their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Canaccord Genuity Group increased their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $242.98.

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.

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