First United Bank & Trust Has $2.52 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

First United Bank & Trust increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,905.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,370 shares of the information services provider’s stock after acquiring an additional 25,055 shares during the period. Alphabet comprises about 1.3% of First United Bank & Trust’s investment portfolio, making the stock its 21st biggest position. First United Bank & Trust’s holdings in Alphabet were worth $2,522,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Bornite Capital Management LP acquired a new position in Alphabet in the first quarter valued at about $16,688,000. Markel Corp boosted its position in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank boosted its position in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $92.12 on Tuesday. The firm has a market capitalization of $1.19 trillion, a P/E ratio of 18.29, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a fifty day moving average of $92.90 and a 200-day moving average of $102.02. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The business had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter last year, the firm posted $1.40 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Robert W. Baird dropped their target price on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. Mizuho dropped their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Sanford C. Bernstein dropped their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by company insiders.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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