Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by First United Bank & Trust

First United Bank & Trust reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,362 shares of the information services provider’s stock after selling 950 shares during the period. Alphabet makes up 1.5% of First United Bank & Trust’s holdings, making the stock its 17th largest position. First United Bank & Trust’s holdings in Alphabet were worth $4,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC purchased a new stake in Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet during the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley dropped their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 price objective on shares of Alphabet in a research note on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $162.78 on Thursday. The firm has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $168.40. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% 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.