82,797 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by American National Bank & Trust Co. VA

American National Bank & Trust Co. VA purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 82,797 shares of the information services provider’s stock, valued at approximately $12,607,000. Alphabet accounts for 3.0% of American National Bank & Trust Co. VA’s investment portfolio, making the stock its 6th largest position.

Other hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the fourth quarter valued at about $26,000. Partnership Wealth Management LLC acquired a new stake in Alphabet in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the fourth quarter valued at about $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet in the fourth quarter valued at about $34,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Price Performance

Alphabet stock opened at $187.39 on Friday. The stock’s 50 day moving average is $176.58 and its 200 day moving average is $157.00. 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 firm has a market cap of $2.32 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.62.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is 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.