UNIVEST FINANCIAL Corp Has $4.93 Million Holdings in Alphabet Inc. $GOOG

UNIVEST FINANCIAL Corp grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 27,813 shares of the information services provider’s stock after buying an additional 2,087 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Alphabet were worth $4,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. IFS Advisors LLC lifted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC lifted its stake in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the first quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.0%

Alphabet stock opened at $281.82 on Friday. The business has a 50 day moving average price of $244.59 and a two-hundred day moving average price of $200.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday. TD Cowen boosted their price objective on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. DA Davidson set a $825.00 price objective on Alphabet in a research report on Monday, October 27th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Finally, Wolfe Research upped their price target on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

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.