City Holding Co. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,435 shares of the information services provider’s stock after selling 4,660 shares during the period. Alphabet comprises about 2.8% of City Holding Co.’s investment portfolio, making the stock its 4th largest position. City Holding Co.’s holdings in Alphabet were worth $15,293,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp lifted its stake in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new stake in Alphabet in the fourth quarter worth about $8,335,063,000. 35.38% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the sale, the director now directly owns 13,040 shares in the company, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Insiders have sold 826,544 shares of company stock valued at $27,117,461 in the last 90 days. 0.88% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $119.70 on Friday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04. The company’s 50 day moving average is $118.09 and its 200 day moving average is $103.96. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.52 trillion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.
Alphabet (NASDAQ:GOOGL – Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the company earned $1.23 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.
About Alphabet
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.
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