Mitchell Mcleod Pugh & Williams Inc. Sells 255 Shares of Alphabet Inc. $GOOGL

Mitchell Mcleod Pugh & Williams Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,217 shares of the information services provider’s stock after selling 255 shares during the period. Alphabet makes up about 1.0% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 20th biggest position. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $5,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GOOGL. Nuveen LLC purchased a new position in Alphabet during the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi grew its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. grew its stake in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial boosted their price target on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Wedbush boosted their price target on Alphabet from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Friday. Finally, Canaccord Genuity Group boosted their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $263.55.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $259.92 on Friday. The company has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00. The business’s 50 day moving average is $236.72 and its two-hundred day moving average is $195.60. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $261.68.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.