Huntington National Bank reduced its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,202 shares of the information services provider’s stock after selling 420 shares during the quarter. Huntington National Bank’s holdings in Alphabet were worth $21,489,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Campbell Wealth Management purchased a new stake in shares of Alphabet in the second quarter valued at about $41,000. Prestige Wealth Management Group LLC raised its holdings in shares of Alphabet by 1,700.0% during the first quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the period. Cordasco Financial Network raised its holdings in shares of Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after purchasing an additional 9 shares during the period. New England Investment & Retirement Group Inc. acquired a new stake in shares of Alphabet during the first quarter worth $44,000. Finally, Paragon Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $47,000. Hedge funds and other institutional investors own 32.91% of the company’s stock.
Shares of GOOG traded down $48.49 during midday trading on Friday, hitting $1,482.96. The stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,586.99. The business has a 50-day simple moving average of $1,474.19 and a two-hundred day simple moving average of $1,377.20. The firm has a market cap of $1,012.30 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.
A number of analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday. Robert W. Baird increased their price objective on shares of Alphabet from $1,650.00 to $1,675.00 in a report on Friday. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1,671.00.
In related news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the sale, the director now directly owns 1,119 shares in the company, valued at $1,587,178.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now owns 592 shares of the company’s stock, valued at $807,257.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212 shares of company stock valued at $303,047. Corporate insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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