Trust Co. of Virginia VA Sells 10 Shares of Alphabet Inc (NASDAQ:GOOGL)

Trust Co. of Virginia VA reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385 shares of the information services provider’s stock after selling 10 shares during the period. Trust Co. of Virginia VA’s holdings in Alphabet were worth $546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Scharf Investments LLC grew its position in Alphabet by 2.7% during the second quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock worth $380,000 after buying an additional 7 shares in the last quarter. Cedar Mountain Advisors LLC grew its position in Alphabet by 26.9% during the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after buying an additional 7 shares in the last quarter. Droms Strauss Advisors Inc. MO ADV grew its position in Alphabet by 3.4% during the first quarter. Droms Strauss Advisors Inc. MO ADV now owns 246 shares of the information services provider’s stock worth $286,000 after buying an additional 8 shares in the last quarter. Apollon Wealth Management LLC grew its position in Alphabet by 4.8% during the first quarter. Apollon Wealth Management LLC now owns 173 shares of the information services provider’s stock worth $201,000 after buying an additional 8 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. grew its position in Alphabet by 2.3% during the first quarter. Analyst IMS Investment Management Services Ltd. now owns 362 shares of the information services provider’s stock worth $420,000 after buying an additional 8 shares in the last quarter. Institutional investors own 34.14% of the company’s stock.

A number of equities research analysts have weighed in on the company. Nomura lifted their price objective on Alphabet from $1,680.00 to $1,700.00 in a report on Wednesday, April 29th. BMO Capital Markets lifted their price objective on Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a report on Wednesday. Canaccord Genuity lifted their price objective on Alphabet from $1,700.00 to $1,800.00 and gave the company a “buy” rating in a report on Friday. Barclays lifted their price objective on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group raised Alphabet to a “buy” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a hold rating and forty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,657.51.

Shares of GOOGL stock opened at $1,487.95 on Friday. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,587.05. The firm has a market capitalization of $1,050.12 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $1,473.93 and a 200-day moving average of $1,375.65.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The company had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Research analysts expect that Alphabet Inc will post 42.07 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: What does cost of debt say about a company’s financial health?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.