Pioneer Trust Bank N A OR Boosts Stock Position in Alphabet Inc. $GOOG

Pioneer Trust Bank N A OR raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,197 shares of the information services provider’s stock after acquiring an additional 720 shares during the period. Alphabet comprises about 4.3% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 6th largest holding. Pioneer Trust Bank N A OR’s holdings in Alphabet were worth $16,710,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairbanks Capital Management Inc. lifted its holdings in shares of Alphabet by 1,054.6% during the 2nd quarter. Fairbanks Capital Management Inc. now owns 26,324 shares of the information services provider’s stock valued at $4,670,000 after purchasing an additional 24,044 shares in the last quarter. Advyzon Investment Management LLC increased its stake in Alphabet by 19.3% during the 2nd quarter. Advyzon Investment Management LLC now owns 12,168 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 1,972 shares in the last quarter. IMA Advisory Services Inc. raised its holdings in Alphabet by 1.8% during the 2nd quarter. IMA Advisory Services Inc. now owns 28,134 shares of the information services provider’s stock worth $4,991,000 after buying an additional 485 shares during the period. VeraBank N.A. lifted its stake in Alphabet by 34.5% in the second quarter. VeraBank N.A. now owns 39,083 shares of the information services provider’s stock valued at $6,933,000 after buying an additional 10,023 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its stake in Alphabet by 7.4% in the second quarter. Verus Capital Partners LLC now owns 34,575 shares of the information services provider’s stock valued at $6,133,000 after buying an additional 2,389 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This represents a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wolfe Research increased their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Sanford C. Bernstein lifted their price target on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $291.74 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day moving average price of $254.94 and a 200 day moving average price of $207.64. The stock has a market capitalization of $3.53 trillion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $292.34.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the firm earned $2.12 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.