First United Bank & Trust Has $536,000 Position in Alphabet Inc. (NASDAQ:GOOG)

First United Bank & Trust cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,205 shares of the information services provider’s stock after selling 800 shares during the quarter. First United Bank & Trust’s holdings in Alphabet were worth $536,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter worth $34,000. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP bought a new position in Alphabet in the second quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet in the second quarter valued at about $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Oppenheimer reduced their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Stock Performance

NASDAQ:GOOG opened at $166.90 on Wednesday. The stock’s 50-day simple moving average is $163.05 and its 200 day simple moving average is $169.57. The firm has a market capitalization of $2.06 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,926 shares of company stock worth $32,251,590. 12.99% of the stock is owned by corporate insiders.

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.