OLD Point Trust & Financial Services N A Purchases 1,150 Shares of Alphabet Inc. $GOOGL

OLD Point Trust & Financial Services N A lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,500 shares of the information services provider’s stock after purchasing an additional 1,150 shares during the period. Alphabet comprises 1.1% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 27th largest holding. OLD Point Trust & Financial Services N A’s holdings in Alphabet were worth $3,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter worth about $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. UBS Group restated a “neutral” rating and set a $306.00 price target (up from $255.00) on shares of Alphabet in a report on Thursday. Susquehanna boosted their price target on Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday. Wells Fargo & Company upped their target price on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday. Moffett Nathanson upped their target price on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday. Finally, Roth Capital upped their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.20.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,330 shares of company stock valued at $51,167,625 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $281.31 on Monday. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. The stock’s 50 day moving average price is $244.00 and its two-hundred day moving average price is $200.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.