First American Bank increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,161 shares of the company’s stock after buying an additional 692 shares during the period. Alphabet comprises approximately 1.0% of First American Bank’s portfolio, making the stock its 19th largest position. First American Bank’s holdings in Alphabet were worth $10,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock valued at $102,000 after buying an additional 72 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock valued at $104,000 after buying an additional 34 shares in the last quarter. Roble Belko & Company Inc boosted its stake in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock valued at $108,000 after buying an additional 115 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock valued at $112,000 after buying an additional 3 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in shares of Alphabet during the second quarter valued at about $117,000. Hedge funds and other institutional investors own 34.14% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL) traded up 0.16% on Friday, reaching $780.23. 613,549 shares of the company were exchanged. Alphabet Inc. has a 12-month low of $672.66 and a 12-month high of $839.00. The stock has a 50 day moving average of $800.21 and a 200 day moving average of $771.86. The firm has a market capitalization of $537.76 billion, a PE ratio of 28.56 and a beta of 0.92.

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GOOGL has been the subject of several research reports. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $890.66 price objective for the company in a research note on Saturday, October 29th. Morgan Stanley reissued a “buy” rating and set a $880.00 price objective on shares of Alphabet in a research note on Thursday, September 29th. Cantor Fitzgerald reissued a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Wednesday, October 5th. Jefferies Group reissued a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Monday, October 3rd. Finally, Bank of America Corp. reissued a “buy” rating and set a $960.00 price objective on shares of Alphabet in a research note on Wednesday, August 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average target price of $940.44.

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.

5 Day Chart for NASDAQ:GOOGL

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