Community Bank N.A. Buys 1,146 Shares of Alphabet Inc. $GOOGL

Key Points

• Community Bank N.A. increased its stake in Alphabet Inc. by 2.4%, acquiring an additional 1,146 shares, bringing its total to 49,298 shares valued at approximately $8.7 million.
• Several institutional investors, including Mystic Asset Management and Bridgeway Capital Management, have also updated their stakes, reflecting increased interest, with 40.03% of Alphabet's stock currently owned by institutional investors.
• Insider trading activity included notable sales by CAO Amie Thuener O'toole and CEO Sundar Pichai, who sold 2,778 and 32,500 shares respectively on October 15th, reflecting a 1.35% decrease in Pichai's holdings.

Community Bank N.A. increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,298 shares of the information services provider's stock after acquiring an additional 1,146 shares during the quarter. Alphabet comprises 1.1% of Community Bank N.A.'s holdings, making the stock its 21st largest holding. Community Bank N.A.'s holdings in Alphabet were worth $8,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares during the period. Cypress Capital LLC grew its holdings in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares during the period. Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its position in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock worth $1,182,000 after acquiring an additional 84 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last ninety days. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOGL shares. Melius Research upped their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Piper Sandler increased their price target on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. JMP Securities reaffirmed a "market outperform" rating and set a $290.00 price objective on shares of Alphabet in a research report on Wednesday. Susquehanna boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, Wedbush increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $263.20.

Alphabet Stock Performance

NASDAQ GOOGL opened at $259.92 on Friday. The company has a fifty day simple moving average of $236.72 and a 200 day simple moving average of $195.25. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $261.68. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Company Profile

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

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