Atlantic Union Bankshares Corp Increases Holdings in Alphabet Inc. $GOOGL

Atlantic Union Bankshares Corp increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 111.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,638 shares of the information services provider’s stock after purchasing an additional 141,726 shares during the period. Alphabet accounts for 1.1% of Atlantic Union Bankshares Corp’s holdings, making the stock its 19th biggest holding. Atlantic Union Bankshares Corp’s holdings in Alphabet were worth $47,342,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Smart Money Group LLC grew its holdings in shares of Alphabet by 9.4% in the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares in the last quarter. Greatmark Investment Partners Inc. increased its position in Alphabet by 1.5% in the first quarter. Greatmark Investment Partners Inc. now owns 6,570 shares of the information services provider’s stock worth $1,016,000 after purchasing an additional 100 shares during the last quarter. Finally, CWM LLC increased its position in Alphabet by 6.0% in the first quarter. CWM LLC now owns 973,415 shares of the information services provider’s stock worth $150,529,000 after purchasing an additional 55,385 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.1%

Alphabet stock opened at $285.02 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.11, a P/E/G ratio of 1.86 and a beta of 1.05. The business has a fifty day moving average of $258.26 and a two-hundred day moving average of $210.16. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $293.95.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Wolfe Research reissued an “outperform” rating and set a $350.00 price objective (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Citic Securities raised their price objective on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Roth Capital lifted their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,396 shares of company stock valued at $54,151,037 in the last ninety days. 11.64% of the stock is currently owned by insiders.

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.