OLD Point Trust & Financial Services N A Has $3.33 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

OLD Point Trust & Financial Services N A trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,590 shares of the information services provider’s stock after selling 425 shares during the quarter. Alphabet accounts for 1.2% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 25th largest position. OLD Point Trust & Financial Services N A’s holdings in Alphabet were worth $3,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,992 shares of company stock worth $16,093,773. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Bank of America reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Finally, DA Davidson boosted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy 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 $209.49.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $154.64 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average price is $178.83 and its two-hundred day moving average price is $177.10. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. Alphabet’s dividend payout ratio is presently 9.94%.

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.