Northwest Bancshares Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,090 shares of the information services provider’s stock after selling 581 shares during the period. Northwest Bancshares Inc.’s holdings in Alphabet were worth $2,309,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of GOOG. Mark Sheptoff Financial Planning LLC raised its stake in shares of Alphabet by 142.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Milestone Wealth LLC raised its stake in shares of Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after acquiring an additional 361 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Alphabet during the fourth quarter worth $48,000. GW&K Investment Management LLC bought a new stake in shares of Alphabet during the first quarter worth $50,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Alphabet during the second quarter worth $50,000. Institutional investors own 27.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on GOOG shares. Oppenheimer boosted their target price on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Susquehanna increased their price objective on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Wedbush initiated coverage on shares of Alphabet in a report on Monday, August 21st. They issued an “outperform” rating on the stock. Finally, Robert W. Baird increased their price objective on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $130.94.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the transaction, the senior vice president now owns 75,621 shares in the company, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $132.09, for a total value of $55,477.80. Following the transaction, the chief accounting officer now owns 25,988 shares of the company’s stock, valued at approximately $3,432,754.92. The disclosure for this sale can be found here. In the last three months, insiders sold 101,091 shares of company stock valued at $13,527,476. 12.99% of the stock is owned by corporate insiders.
Alphabet Price Performance
GOOG opened at $138.73 on Monday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.93. The company has a fifty day simple moving average of $133.39 and a 200 day simple moving average of $122.45. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.39, a P/E/G ratio of 1.60 and a beta of 1.06.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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