VNBTrust National Association Has $412,000 Holdings in Alphabet Inc. (GOOG)
VNBTrust National Association decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 454 shares of the information services provider’s stock after selling 13 shares during the period. VNBTrust National Association’s holdings in Alphabet were worth $412,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of GOOG. Farmers National Bank increased its stake in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $170,000. Pinnacle Bank purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $181,000. Palo Capital Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $202,000. Finally, BTC Capital Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $209,000. Hedge funds and other institutional investors own 34.55% of the company’s stock.
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Alphabet Inc. (NASDAQ GOOG) traded down 1.02% during trading on Thursday, hitting $925.54. 686,931 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $926.52 and its 200 day moving average price is $906.54. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25. The firm has a market cap of $641.29 billion, a price-to-earnings ratio of 33.54 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. During the same period last year, the firm posted $8.42 EPS. Alphabet’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
In other news, SVP David C. Drummond sold 1,496 shares of Alphabet stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the transaction, the senior vice president now directly owns 52 shares of the company’s stock, valued at approximately $48,867.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $931.44, for a total transaction of $3,725,760.00. Following the transaction, the chief executive officer now directly owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The disclosure for this sale can be found here. Insiders have sold a total of 46,680 shares of company stock valued at $43,521,363 over the last three months. 13.92% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on GOOG shares. MKM Partners restated a “buy” rating and set a $1,170.00 price target on shares of Alphabet in a research note on Wednesday, June 28th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a report on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Monday, July 17th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a price objective on shares of Alphabet in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $1,031.14.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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