United Bank Raises Position in Alphabet Inc. $GOOGL

United Bank grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,204 shares of the information services provider’s stock after acquiring an additional 3,120 shares during the period. Alphabet accounts for 3.3% of United Bank’s portfolio, making the stock its 7th largest holding. United Bank’s holdings in Alphabet were worth $8,495,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOGL. Missouri Trust & Investment Co grew its stake in shares of Alphabet by 0.3% in 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 in the last quarter. AM Investment Strategies LLC raised its holdings in shares of 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 purchasing an additional 57 shares in the last quarter. Bfsg LLC raised its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. Financial Council LLC raised its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth raised its holdings in shares of Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.7%

Shares of GOOGL stock opened at $267.47 on Wednesday. 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 PE ratio of 28.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. The company has a 50-day moving average of $239.35 and a two-hundred day moving average of $197.43. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $270.73.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOGL shares. Susquehanna boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Melius Research boosted their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. JMP Securities restated a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research report on Wednesday, October 22nd. New Street Research upped their price objective on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Finally, Citizens Jmp upped their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.34.

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.