Alphabet Inc. $GOOGL Shares Sold by First United Bank & Trust

First United Bank & Trust cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,270 shares of the information services provider’s stock after selling 115 shares during the period. Alphabet accounts for 1.4% of First United Bank & Trust’s holdings, making the stock its 20th biggest position. First United Bank & Trust’s holdings in Alphabet were worth $4,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC grew its stake in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares during the period. Bfsg LLC increased its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth increased its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Finally, Park Capital Management LLC WI raised its position in Alphabet by 1.1% during the second quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider’s stock worth $1,058,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOGL shares. Canaccord Genuity Group lifted their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Wedbush increased their target price on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus raised their target price on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.76.

Alphabet Trading Up 2.1%

Shares of GOOGL opened at $250.43 on Tuesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The firm has a market capitalization of $3.03 trillion, a P/E ratio of 26.67, a P/E/G ratio of 1.66 and a beta of 1.00. The firm has a 50-day moving average price of $222.41 and a 200 day moving average price of $186.72. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.