First Citizens Bank & Trust Co. Sells 9,058 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Citizens Bank & Trust Co. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,610 shares of the information services provider’s stock after selling 9,058 shares during the quarter. Alphabet makes up approximately 0.4% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 23rd largest holding. First Citizens Bank & Trust Co.’s holdings in Alphabet were worth $28,462,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Howard Financial Services LTD. increased its position in Alphabet by 7.4% during the 1st quarter. Howard Financial Services LTD. now owns 7,080 shares of the information services provider’s stock worth $1,069,000 after buying an additional 489 shares during the period. Indiana Trust & Investment Management CO grew its stake in shares of Alphabet by 0.5% in the first quarter. Indiana Trust & Investment Management CO now owns 48,914 shares of the information services provider’s stock valued at $7,383,000 after acquiring an additional 261 shares in the last quarter. Capital Asset Advisory Services LLC increased its position in Alphabet by 7.1% during the first quarter. Capital Asset Advisory Services LLC now owns 55,493 shares of the information services provider’s stock worth $8,463,000 after acquiring an additional 3,672 shares during the period. Register Financial Advisors LLC raised its stake in Alphabet by 19.8% in the 1st quarter. Register Financial Advisors LLC now owns 2,422 shares of the information services provider’s stock worth $366,000 after purchasing an additional 400 shares in the last quarter. Finally, LongView Wealth Management boosted its holdings in Alphabet by 2.6% in the 1st quarter. LongView Wealth Management now owns 6,192 shares of the information services provider’s stock valued at $935,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. 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 quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. UBS Group boosted their price target on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Seven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Up 0.9 %

Shares of NASDAQ:GOOGL opened at $166.72 on Tuesday. The firm has a market cap of $2.06 trillion, a P/E ratio of 25.57, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75. The business has a fifty day simple moving average of $161.95 and a 200 day simple moving average of $168.65. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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.