Today: Today: United Bank Inc. Increases Stake in Alphabet Inc. (GOOGL)

Today: United Bank Inc. Increases Stake in Alphabet Inc. (GOOGL)

United Bank Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.2% during the second quarter, Holdings Channel reports. The firm owned 500 shares of the company’s stock after buying an additional 66 shares during the period. United Bank Inc.’s holdings in Alphabet were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. SevenBridge Financial Group LLC acquired a new position in Alphabet during the first quarter valued at $120,000. Peoples Financial Services CORP. raised its position in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the period. Cacti Asset Management LLC purchased a new position in Alphabet during the second quarter worth approximately $162,000. Founders Capital Management LLC purchased a new position in Alphabet during the second quarter worth approximately $196,000. Finally, Oakworth Capital Inc. raised its position in Alphabet by 4.9% in the second quarter. Oakworth Capital Inc. now owns 277 shares of the company’s stock worth $207,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 34.12% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.06% during trading on Friday, reaching $804.60. 1,111,934 shares of the company’s stock traded hands. The company has a 50 day moving average of $801.64 and a 200 day moving average of $761.61. Alphabet Inc. has a one year low of $670.70 and a one year high of $819.86. The firm has a market cap of $552.98 billion, a price-to-earnings ratio of 31.18 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Equities research analysts predict that Alphabet Inc. will post $34.11 EPS for the current year.

A number of research firms have recently commented on GOOGL. Deutsche Bank AG restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $907.00 price objective for the company in a research report on Wednesday. Axiom Securities raised their price objective on shares of Alphabet from $990.00 to $1,000.00 and gave the company a “buy” rating in a research report on Monday, October 10th. Raymond James Financial Inc. restated an “outperform” rating on shares of Alphabet in a research report on Friday, October 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a research report on Friday, October 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $926.50.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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