Huntington National Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,596,692 shares of the information services provider's stock after buying an additional 38,649 shares during the quarter. Alphabet makes up 2.2% of Huntington National Bank's investment portfolio, making the stock its 5th largest position. Huntington National Bank's holdings in Alphabet were worth $302,254,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of GOOGL. Principal Financial Group Inc. lifted its holdings in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the period. First Commonwealth Financial Corp PA grew its position in Alphabet by 0.7% during the third quarter. First Commonwealth Financial Corp PA now owns 31,900 shares of the information services provider's stock valued at $5,291,000 after acquiring an additional 218 shares during the period. FORA Capital LLC increased its stake in Alphabet by 222.5% during the third quarter. FORA Capital LLC now owns 22,500 shares of the information services provider's stock worth $3,732,000 after acquiring an additional 15,523 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,385,621 shares of the information services provider's stock worth $727,355,000 after purchasing an additional 364,348 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Alphabet in the 3rd quarter valued at about $17,523,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
A number of analysts recently issued reports on GOOGL shares. Citigroup dropped their target price on shares of Alphabet from $229.00 to $195.00 and set a "buy" rating for the company in a research report on Thursday. Mizuho dropped their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group cut their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.51.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
GOOGL stock traded up $4.32 during midday trading on Friday, reaching $157.14. The company had a trading volume of 33,590,459 shares, compared to its average volume of 28,213,740. The firm has a market capitalization of $1.92 trillion, a PE ratio of 19.52, a P/E/G ratio of 1.34 and a beta of 1.03. The stock has a 50 day moving average price of $168.52 and a 200 day moving average price of $176.31. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet's dividend payout ratio is currently 9.94%.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock valued at $21,089,470 in the last quarter. Company insiders own 11.55% of the company's stock.
Alphabet Company Profile
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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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