Pioneer Trust Bank N A OR Has $16.71 Million Stock Position in Alphabet Inc. $GOOG

Pioneer Trust Bank N A OR raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 94,197 shares of the information services provider’s stock after purchasing an additional 720 shares during the quarter. Alphabet accounts for about 4.3% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 6th biggest position. Pioneer Trust Bank N A OR’s holdings in Alphabet were worth $16,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GOOG. RDA Financial Network boosted its holdings in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the 2nd quarter valued at $213,000. Tower View Wealth Management LLC raised its stake in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. raised its stake in Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after acquiring an additional 1,970 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 0.4%

Shares of NASDAQ GOOG opened at $291.74 on Wednesday. The company’s 50 day simple moving average is $254.94 and its 200 day simple moving average is $207.64. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $292.34. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 28.77, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released 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 firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid 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 dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Oppenheimer upped their price objective on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Jefferies Financial Group boosted their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet 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.