First Financial Bankshares Inc Sells 204 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Financial Bankshares Inc reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,416 shares of the information services provider’s stock after selling 204 shares during the period. First Financial Bankshares Inc’s holdings in Alphabet were worth $1,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Colonial River Wealth Management LLC lifted its position in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the last quarter. Oak Ridge Investments LLC raised its stake in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after acquiring an additional 498 shares during the last quarter. Alliance Wealth Management Group boosted its stake in shares of Alphabet by 93.6% during the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after purchasing an additional 1,890 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Alphabet by 4.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after purchasing an additional 115,716 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer cut their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, UBS Group decreased their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Up 0.8 %

Shares of Alphabet stock opened at $168.34 on Tuesday. Alphabet Inc. has a 1 year low of $123.88 and a 1 year high of $193.31. 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 stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.27 and a beta of 1.04. The firm’s 50-day moving average is $163.35 and its two-hundred day moving average is $170.18.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated 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 in the company, valued at $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 available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.