City State Bank Has $3.22 Million Holdings in Alphabet Inc. $GOOG

City State Bank increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,169 shares of the information services provider’s stock after buying an additional 660 shares during the quarter. Alphabet accounts for approximately 1.0% of City State Bank’s holdings, making the stock its 24th largest holding. City State Bank’s holdings in Alphabet were worth $3,223,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth $26,000. IFS Advisors LLC raised its stake in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley raised its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Finally, Fairman Group LLC raised its stake in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Jefferies Financial Group lifted their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Scotiabank reissued an “outperform” rating and issued a $310.00 price target on shares of Alphabet in a research note on Thursday, October 16th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, TD Cowen lifted their target price on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.45.

Alphabet Trading Up 3.6%

Alphabet stock opened at $269.93 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $270.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.26 trillion, a P/E ratio of 28.75, a PEG ratio of 1.76 and a beta of 1.00. The stock has a 50-day simple moving average of $238.65 and a 200 day simple moving average of $197.67.

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