Tompkins Financial Corp Sells 2,150 Shares of Alphabet Inc. $GOOGL

Key Points

• Tompkins Financial Corp has reduced its investment in Alphabet Inc. by 2.8%, selling 2,150 shares and holding a total of 76,008 shares, valued at approximately $13.4 million.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, exceeding analysts' expectations of $2.15, and generated revenues of $96.43 billion in the same quarter.
• Following a recent declaration of a quarterly dividend of $0.21 per share, Alphabet announced a dividend yield of 0.3% and a dividend payout ratio of 8.95%.

Tompkins Financial Corp trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,008 shares of the information services provider's stock after selling 2,150 shares during the period. Alphabet accounts for about 1.2% of Tompkins Financial Corp's investment portfolio, making the stock its 24th largest position. Tompkins Financial Corp's holdings in Alphabet were worth $13,395,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Invesco Ltd. increased its stake in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG lifted its position in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.6%

NASDAQ GOOGL traded down $1.39 during trading on Tuesday, reaching $251.14. 7,828,454 shares of the stock traded hands, compared to its average volume of 36,669,504. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The stock's 50-day moving average price is $210.78 and its 200 day moving average price is $180.96.

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

Alphabet Announces Dividend

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. Barclays lifted their price target on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Needham & Company LLC lifted their price objective on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Guggenheim boosted their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial increased their target price on shares of Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.31.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.

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.