Alphabet Inc. $GOOGL Shares Bought by CNB Bank

CNB Bank grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,736 shares of the information services provider’s stock after buying an additional 3,363 shares during the period. Alphabet accounts for about 2.2% of CNB Bank’s portfolio, making the stock its 5th biggest holding. CNB Bank’s holdings in Alphabet were worth $4,712,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Rovin Capital UT ADV increased its stake in shares of Alphabet by 9.4% during the first quarter. Rovin Capital UT ADV now owns 10,843 shares of the information services provider’s stock worth $1,677,000 after purchasing an additional 933 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Alphabet by 1.2% during the first quarter. Vontobel Holding Ltd. now owns 2,908,021 shares of the information services provider’s stock worth $449,696,000 after purchasing an additional 34,481 shares during the period. Finally, Elevate Capital Advisors LLC increased its stake in shares of Alphabet by 1.9% during the first quarter. Elevate Capital Advisors LLC now owns 25,619 shares of the information services provider’s stock worth $3,962,000 after purchasing an additional 483 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. China Renaissance increased their target price on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Loop Capital raised their price objective on Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Moffett Nathanson raised their price objective on Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Evercore ISI raised their price objective on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Oppenheimer raised their price objective on Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $303.09.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 190,896 shares of company stock worth $45,092,175. 11.64% of the stock is owned by insiders.

Alphabet Trading Down 2.2%

Shares of GOOGL stock opened at $277.54 on Wednesday. The stock’s fifty day moving average price is $246.91 and its two-hundred day moving average price is $202.13. The company has a market cap of $3.36 trillion, a PE ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

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.