United Community Bank Buys 1,417 Shares of Alphabet Inc. (NASDAQ:GOOGL)

United Community Bank grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,699 shares of the information services provider's stock after buying an additional 1,417 shares during the period. United Community Bank's holdings in Alphabet were worth $1,654,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the first quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $39,000. Elite Financial Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $42,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $49,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Alphabet in the 1st quarter worth $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Barclays raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Thursday. KeyCorp raised their target price on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday. Citigroup lifted their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $210.79.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 in the last 90 days. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock traded up $3.70 during trading hours on Thursday, hitting $193.93. 56,671,075 shares of the stock traded hands, compared to its average volume of 36,920,125. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.35 trillion, a P/E ratio of 21.62, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $174.67 and a 200 day simple moving average of $173.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter last year, the firm posted $1.89 EPS. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet 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.