Trust Co. of Virginia VA Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Trust Co. of Virginia VA lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,013 shares of the information services provider’s stock after selling 291 shares during the quarter. Trust Co. of Virginia VA’s holdings in Alphabet were worth $1,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Viewpoint Capital Management LLC grew its holdings in Alphabet by 12.6% during the 1st quarter. Viewpoint Capital Management LLC now owns 5,463 shares of the information services provider’s stock valued at $824,000 after purchasing an additional 613 shares in the last quarter. Weaver Consulting Group grew its stake in shares of Alphabet by 1.6% during the first quarter. Weaver Consulting Group now owns 9,160 shares of the information services provider’s stock valued at $1,383,000 after acquiring an additional 144 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of Alphabet by 10.1% during the first quarter. Occidental Asset Management LLC now owns 5,011 shares of the information services provider’s stock worth $756,000 after acquiring an additional 459 shares during the last quarter. WD Rutherford LLC lifted its stake in shares of Alphabet by 0.5% in the first quarter. WD Rutherford LLC now owns 32,360 shares of the information services provider’s stock worth $4,884,000 after acquiring an additional 177 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in Alphabet by 5.3% in the first quarter. Independence Bank of Kentucky now owns 55,222 shares of the information services provider’s stock valued at $8,335,000 after purchasing an additional 2,763 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,344 shares of company stock valued at $23,920,676. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. BMO Capital Markets restated an “outperform” rating and issued a $215.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Truist Financial boosted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Evercore ISI boosted their price target on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Stock Up 0.5 %

Shares of GOOGL stock opened at $182.99 on Tuesday. The stock has a market cap of $2.26 trillion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a fifty day moving average price of $172.85 and a 200 day moving average price of $154.44. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the business earned $1.17 EPS. Analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 12.27%.

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.