First American Trust FSB lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 42.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,488 shares of the information services provider’s stock after selling 1,079 shares during the period. First American Trust FSB’s holdings in Alphabet were worth $1,352,000 as of its most recent SEC filing.

A number of other hedge funds 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 worth $134,000 after buying an additional 21 shares during the period. Feltz Wealth PLAN Inc. purchased a new position in Alphabet in the 1st quarter worth about $170,000. Pinnacle Bank purchased a new position in Alphabet in the 1st quarter worth about $181,000. Palo Capital Inc. purchased a new position in Alphabet in the 1st quarter worth about $202,000. Finally, BTC Capital Management Inc. purchased a new position in Alphabet in the 1st quarter worth about $209,000. 34.55% of the stock is currently owned by institutional investors.

Alphabet Inc. (GOOG) traded down 0.54% during trading on Friday, hitting $920.15. 1,175,458 shares of the stock traded hands. The firm’s 50-day moving average is $925.43 and its 200-day moving average is $906.88. The stock has a market cap of $637.55 billion, a P/E ratio of 33.35 and a beta of 0.94. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business posted $8.42 EPS. On average, analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total value of $3,879,680.00. Following the sale, the chief executive officer now directly owns 1,536 shares of the company’s stock, valued at approximately $1,489,797.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at $3,213,692.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,680 shares of company stock valued at $43,521,363. 13.92% of the stock is currently owned by company insiders.

Several research firms recently commented on GOOG. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity reaffirmed a “hold” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Thursday, July 27th. SunTrust Banks, Inc. began coverage on shares of Alphabet in a research note on Wednesday, August 16th. They issued a “buy” rating and a $1,100.00 price target on the stock. Finally, Aegis reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,031.14.

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Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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