Orrstown Financial Services Inc. Invests $837,000 in Alphabet Inc. (NASDAQ:GOOG)

Orrstown Financial Services Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,006 shares of the information services provider’s stock, valued at approximately $837,000.

Several other institutional investors have also added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 1.7 %

GOOG stock opened at $171.14 on Wednesday. Alphabet Inc. has a one year low of $123.88 and a one year high of $193.31. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a fifty day moving average price of $163.39 and a two-hundred day moving average price of $170.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. UBS Group dropped their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Pivotal Research started coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Finally, Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

View Our Latest Stock Analysis on Alphabet

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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