First National Bank of Hutchinson Invests $213,000 in Alphabet Inc. $GOOGL

First National Bank of Hutchinson purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,208 shares of the information services provider’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $267.47 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $270.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.23 trillion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.82 and a beta of 1.00. The company has a fifty day moving average price of $239.35 and a 200-day moving average price of $197.43.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOGL shares. KeyCorp reiterated an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research report on Monday. Melius Research boosted their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Oppenheimer boosted their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Moffett Nathanson boosted their target price on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, Needham & Company LLC boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.34.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is 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.