NBT Bank N A NY Reduces Stake in Alphabet Inc. (GOOGL)
NBT Bank N A NY cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,448 shares of the company’s stock after selling 274 shares during the period. NBT Bank N A NY’s holdings in Alphabet were worth $3,577,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Alphabet by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,747,794 shares of the company’s stock valued at $5,450,806,000 after buying an additional 129,555 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the company’s stock worth $2,881,806,000 after buying an additional 14,001 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Alphabet by 2.5% in the second quarter. BlackRock Fund Advisors now owns 3,829,095 shares of the company’s stock worth $2,693,883,000 after buying an additional 93,453 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Alphabet by 1.4% in the second quarter. Capital World Investors now owns 3,159,160 shares of the company’s stock worth $2,222,564,000 after buying an additional 43,470 shares in the last quarter. 34.63% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOGL) traded up 0.46% on Tuesday, reaching $789.44. The company’s stock had a trading volume of 1,561,793 shares. Alphabet Inc. has a 52-week low of $672.66 and a 52-week high of $839.00. The firm’s 50-day moving average price is $799.78 and its 200 day moving average price is $772.81. The company has a market cap of $544.11 billion, a P/E ratio of 28.89 and a beta of 0.92.
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Several equities research analysts have commented on the stock. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $880.83 price target on the stock in a research report on Thursday, November 24th. MKM Partners set a $935.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Monday, November 14th. Robert W. Baird restated an “outperform” rating and set a $930.00 price objective on shares of Alphabet in a report on Tuesday, November 8th. RBC Capital Markets restated an “outperform” rating and set a $1,025.00 price objective on shares of Alphabet in a report on Thursday, November 3rd. Finally, B. Riley restated a “buy” rating and set a $990.00 price objective on shares of Alphabet in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $940.44.
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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