Tompkins Financial Corp Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tompkins Financial Corp lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,656 shares of the information services provider’s stock after acquiring an additional 2,281 shares during the quarter. Alphabet makes up approximately 1.2% of Tompkins Financial Corp’s portfolio, making the stock its 22nd largest position. Tompkins Financial Corp’s holdings in Alphabet were worth $12,713,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth about $36,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter valued at about $41,000. Quarry LP bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $55,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last three months. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $164.76 on Friday. The firm has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $170.36. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The company has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.27 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the company posted $1.55 EPS. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. KeyCorp increased their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.