OLD Point Trust & Financial Services N A Sells 425 Shares of Alphabet Inc. (NASDAQ:GOOGL)

OLD Point Trust & Financial Services N A lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 17,590 shares of the information services provider’s stock after selling 425 shares during the quarter. Alphabet accounts for approximately 1.2% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 25th largest holding. 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.

A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC raised its position in Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. Amundi increased its stake in shares of Alphabet by 18.7% in the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after buying an additional 4,694,621 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Alphabet during the 3rd quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC grew its holdings in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,992 shares of company stock valued at $16,093,773 over the last quarter. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GOOGL shares. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler cut their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Wolfe Research raised their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.49.

Alphabet Stock Performance

GOOGL opened at $154.64 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05. The firm has a 50 day moving average of $178.83 and a two-hundred day moving average of $177.10. The firm has a market capitalization of $1.89 trillion, a PE ratio of 19.21, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Alphabet Company 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.