VNBTrust National Association Sells 27 Shares of Alphabet Inc. (GOOGL)
VNBTrust National Association cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 423 shares of the information services provider’s stock after selling 27 shares during the quarter. VNBTrust National Association’s holdings in Alphabet were worth $393,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet in the 1st quarter worth about $108,000. Delta Asset Management LLC TN raised its position in shares of Alphabet by 1.5% in the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares in the last quarter. Farmers National Bank raised its position in shares of Alphabet by 2.7% in the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after acquiring an additional 4 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 58.3% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after acquiring an additional 56 shares in the last quarter. Finally, Jacobi Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter worth about $132,000. 33.88% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on GOOGL shares. Societe Generale set a $1,210.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,050.00 target price on shares of Alphabet in a research report on Saturday, July 22nd. Pivotal Research reaffirmed a “hold” rating and issued a $940.00 target price (down from $980.00) on shares of Alphabet in a research report on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,258.00 target price (up from $1,250.00) on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Instinet reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,053.45.
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Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.41% during midday trading on Friday, hitting $936.31. 1,044,976 shares of the company traded hands. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61. The stock has a market capitalization of $648.75 billion, a P/E ratio of 33.93 and a beta of 0.98. The company has a 50-day moving average price of $941.05 and a 200-day moving average price of $925.84.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the previous year, the company earned $8.42 EPS. Analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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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