Community Trust & Investment Co. Invests $238,000 in Alphabet Inc. (NASDAQ:GOOGL)

Community Trust & Investment Co. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 109 shares of the information services provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hixon Zuercher LLC grew its stake in shares of Alphabet by 2.4% during the 2nd quarter. Hixon Zuercher LLC now owns 2,436 shares of the information services provider’s stock worth $5,309,000 after acquiring an additional 56 shares during the period. Consilium Wealth Advisory LLC lifted its holdings in Alphabet by 2.7% during the 2nd quarter. Consilium Wealth Advisory LLC now owns 924 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 24 shares in the last quarter. Connecticut Wealth Management LLC lifted its holdings in Alphabet by 9.0% during the 2nd quarter. Connecticut Wealth Management LLC now owns 483 shares of the information services provider’s stock worth $1,053,000 after purchasing an additional 40 shares in the last quarter. Diversified Trust Co lifted its holdings in Alphabet by 10.4% during the 2nd quarter. Diversified Trust Co now owns 10,647 shares of the information services provider’s stock worth $23,203,000 after purchasing an additional 1,005 shares in the last quarter. Finally, GPM Growth Investors Inc. lifted its holdings in Alphabet by 1.2% during the 2nd quarter. GPM Growth Investors Inc. now owns 4,535 shares of the information services provider’s stock worth $9,883,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 1.88% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $100.14 on Friday. The firm has a market cap of $1.31 trillion, a P/E ratio of 18.63, a P/E/G ratio of 1.64 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $98.79 and a fifty-two week high of $151.55. The business’s 50 day moving average price is $111.79 and its 200-day moving average price is $117.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the prior year, the business posted $27.26 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 34,799 shares of Alphabet stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GOOGL shares. JPMorgan Chase & Co. dropped their price objective on Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Susquehanna Bancshares dropped their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a report on Wednesday, July 27th. Bank of America dropped their price objective on Alphabet from $132.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Tigress Financial raised their price target on Alphabet from $183.00 to $186.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 3rd. Finally, Evercore ISI lowered their price target on Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.41.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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