Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by First United Bank & Trust

First United Bank & Trust boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,480 shares of the information services provider’s stock after buying an additional 4,256 shares during the period. First United Bank & Trust’s holdings in Alphabet were worth $431,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Alphabet by 1,872.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after acquiring an additional 17,365,189 shares in the last quarter. Nordea Investment Management AB raised its holdings in Alphabet by 1,899.8% in the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock valued at $654,531,000 after acquiring an additional 6,343,615 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in Alphabet by 1,858.3% during the third quarter. Gateway Investment Advisers LLC now owns 2,215,430 shares of the information services provider’s stock valued at $213,014,000 after purchasing an additional 2,102,300 shares during the last quarter. Everett Harris & Co. CA increased its stake in Alphabet by 1,890.3% during the third quarter. Everett Harris & Co. CA now owns 2,211,903 shares of the information services provider’s stock valued at $212,674,000 after purchasing an additional 2,100,767 shares during the last quarter. Finally, Intermede Investment Partners Ltd increased its stake in Alphabet by 1,859.1% during the third quarter. Intermede Investment Partners Ltd now owns 2,210,681 shares of the information services provider’s stock valued at $212,557,000 after purchasing an additional 2,097,840 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $92.80 on Friday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.61 and a beta of 1.08. The firm has a 50-day moving average of $93.23 and a two-hundred day moving average of $102.78.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same period in the previous year, the company posted $1.40 earnings per share. Alphabet’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James lowered their target price on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Oppenheimer lowered their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. Societe Generale lowered their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Cowen lowered their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $141.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

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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.