Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Community Financial Services Group LLC

Community Financial Services Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,118 shares of the information services provider’s stock after purchasing an additional 1,089 shares during the period. Alphabet comprises approximately 2.7% of Community Financial Services Group LLC’s holdings, making the stock its 6th largest holding. Community Financial Services Group LLC’s holdings in Alphabet were worth $13,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP raised its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOOG shares. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective for the company. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. UBS Group decreased their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Finally, Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Four research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.6 %

Shares of Alphabet stock opened at $166.82 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day simple moving average of $163.23 and a two-hundred day simple moving average of $169.96. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the company posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

About Alphabet

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.