Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Huntington National Bank

Huntington National Bank lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,558,043 shares of the information services provider's stock after purchasing an additional 23,743 shares during the quarter. Alphabet comprises about 1.9% of Huntington National Bank's investment portfolio, making the stock its 7th largest holding. Huntington National Bank's holdings in Alphabet were worth $258,402,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth about $36,000. Denver PWM LLC acquired a new position in Alphabet during the second quarter worth about $41,000. Quarry LP acquired a new position in Alphabet during the second quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new position in Alphabet during the second quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Truist Financial lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They set a "neutral" rating and a $170.00 target price on the stock. Phillip Securities raised Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.90.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $169.23 on Thursday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The stock has a 50-day simple moving average of $168.22 and a 200-day simple moving average of $170.34.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company's stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last ninety days. Insiders own 11.55% of the company's stock.

Alphabet Company 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.