Alphabet Inc. (NASDAQ:GOOGL) is City Holding Co.’s 5th Largest Position

City Holding Co. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 126,112 shares of the information services provider’s stock after selling 5,585 shares during the quarter. Alphabet comprises 2.9% of City Holding Co.’s holdings, making the stock its 5th largest position. City Holding Co.’s holdings in Alphabet were worth $20,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOGL opened at $165.16 on Thursday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average of $161.76 and a two-hundred day moving average of $168.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the business posted $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,406,343.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOOGL shares. Wells Fargo & Company cut their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Tuesday. Finally, TD Securities raised their target price on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.76.

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.