First Interstate Bank Cuts Stock Holdings in Alphabet Inc. $GOOGL

First Interstate Bank decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 62,886 shares of the information services provider’s stock after selling 612 shares during the period. Alphabet accounts for about 0.7% of First Interstate Bank’s portfolio, making the stock its 25th largest position. First Interstate Bank’s holdings in Alphabet were worth $11,082,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Diversified Trust Co grew its position in shares of Alphabet by 2.0% in the 1st quarter. Diversified Trust Co now owns 305,027 shares of the information services provider’s stock worth $47,169,000 after buying an additional 5,892 shares during the last quarter. Victrix Investment Advisors grew its position in shares of Alphabet by 2.9% in the 1st quarter. Victrix Investment Advisors now owns 45,301 shares of the information services provider’s stock worth $6,849,000 after buying an additional 1,270 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its position in shares of Alphabet by 17.8% in the 1st quarter. Transcend Capital Advisors LLC now owns 63,325 shares of the information services provider’s stock worth $9,793,000 after buying an additional 9,549 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $281.48 on Friday. 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 $291.59. The company has a 50 day simple moving average of $242.49 and a two-hundred day simple moving average of $198.83. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on 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. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOGL shares. Melius Research lifted their price objective on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Roth Capital lifted their price objective on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday. Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wolfe Research reiterated an “outperform” rating and issued a $350.00 target price (up from $290.00) on shares of Alphabet in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.32.

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.