First Interstate Bank Has $1.29 Million Stock Holdings in Alphabet Inc. $GOOG

First Interstate Bank cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,254 shares of the information services provider’s stock after selling 303 shares during the quarter. First Interstate Bank’s holdings in Alphabet were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC increased its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Alphabet in the first quarter valued at $2,622,943,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the first quarter valued at about $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

NASDAQ:GOOG opened at $252.53 on Thursday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.05 trillion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The business’s 50-day simple moving average is $235.22 and its 200-day simple moving average is $194.81.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. Oppenheimer set a $300.00 price target on Alphabet and gave the company an “outperform” rating in a report on Monday. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, TD Cowen raised their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $246.26.

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.