Farmers & Merchants Trust Co of Chambersburg PA Has $137,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Jun 25th, 2023

Farmers & Merchants Trust Co of Chambersburg PA decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 16.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,315 shares of the information services provider’s stock after selling 265 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Alphabet were worth $137,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after buying an additional 400,930,216 shares during the last quarter. BlackRock Inc. lifted its position in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares during the last quarter. State Street Corp lifted its position in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the transaction, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Insiders have sold 877,364 shares of company stock valued at $30,371,135 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.7 %

Shares of GOOG opened at $123.02 on Friday. The company has a market capitalization of $1.56 trillion, a P/E ratio of 27.40, a PEG ratio of 1.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a one year low of $83.45 and a one year high of $129.55. The business’s 50 day simple moving average is $117.33 and its 200-day simple moving average is $103.75.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. Alphabet’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Oppenheimer dropped their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.

About Alphabet

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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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.