City Holding Co. Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

City Holding Co. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,891 shares of the information services provider’s stock after selling 127 shares during the quarter. Alphabet accounts for 3.2% of City Holding Co.’s holdings, making the stock its 3rd largest position. City Holding Co.’s holdings in Alphabet were worth $17,196,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Smith & Howard Wealth Management LLC bought a new position in shares of Alphabet during the second quarter worth approximately $482,000. Redpoint Investment Management Pty Ltd increased its stake in Alphabet by 0.8% in the second quarter. Redpoint Investment Management Pty Ltd now owns 7,468 shares of the information services provider’s stock valued at $16,275,000 after acquiring an additional 59 shares during the last quarter. Apella Capital LLC increased its stake in Alphabet by 26.6% in the second quarter. Apella Capital LLC now owns 219 shares of the information services provider’s stock valued at $477,000 after acquiring an additional 46 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in Alphabet by 0.7% in the second quarter. Indiana Trust & Investment Management CO now owns 1,816 shares of the information services provider’s stock valued at $3,957,000 after acquiring an additional 12 shares during the last quarter. Finally, Lancaster Investment Management bought a new position in Alphabet in the second quarter valued at approximately $244,000. 1.88% of the stock is owned by institutional investors.

Alphabet Trading Down 0.1 %

GOOGL opened at $102.80 on Monday. Alphabet Inc. has a 1-year low of $100.94 and a 1-year high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.34 trillion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a fifty day moving average price of $112.93 and a two-hundred day moving average price of $118.84.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. During the same period last year, the firm posted $27.26 earnings per share. Analysts predict that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 26th. Itaú Unibanco assumed coverage on shares of Alphabet in a research note on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 price objective on the stock. Exane BNP Paribas cut shares of Alphabet from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 20th. Evercore ISI cut their target price on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Piper Sandler cut their target price on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.41.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the completion of the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,536 shares of company stock valued at $15,729,998. Corporate insiders own 11.44% of the company’s stock.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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