United Bank Reduces Holdings in Alphabet Inc (NASDAQ:GOOGL)

United Bank decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 10.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,385 shares of the information services provider’s stock after selling 280 shares during the period. Alphabet makes up about 2.0% of United Bank’s investment portfolio, making the stock its 11th biggest position. United Bank’s holdings in Alphabet were worth $2,582,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Belvedere Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth $38,000. Thor Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth $45,000. Lavaca Capital LLC purchased a new stake in Alphabet during the 4th quarter worth $97,000. Quantamental Technologies LLC acquired a new position in Alphabet during the 4th quarter worth $103,000. Finally, Private Ocean LLC grew its holdings in Alphabet by 26.7% during the 4th quarter. Private Ocean LLC now owns 114 shares of the information services provider’s stock worth $119,000 after acquiring an additional 24 shares in the last quarter. 33.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ GOOGL traded down $15.46 during midday trading on Friday, hitting $1,196.32. The company’s stock had a trading volume of 1,744,887 shares, compared to its average volume of 1,612,959. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The business has a fifty day simple moving average of $1,137.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The firm has a market cap of $845.73 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.34 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion during the quarter, compared to analyst estimates of $30.90 billion. On average, equities research analysts forecast that Alphabet Inc will post 51.94 EPS for the current year.

Several research analysts have weighed in on GOOGL shares. Credit Suisse Group raised their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price objective for the company in a report on Monday, July 8th. Mizuho raised their price objective on shares of Alphabet from $1,350.00 to $1,400.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna Bancshares raised their price objective on shares of Alphabet to $1,550.00 in a report on Friday, July 26th. Finally, DZ Bank reissued a “hold” rating and set a $1,197.00 price objective on shares of Alphabet in a report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,371.05.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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