Northwest Bancshares Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,800 shares of the information services provider’s stock after selling 2,795 shares during the period. Alphabet makes up approximately 1.1% of Northwest Bancshares Inc.’s holdings, making the stock its 25th biggest position. Northwest Bancshares Inc.’s holdings in Alphabet were worth $5,961,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on GOOGL shares. Barclays lifted their price objective on Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Truist Financial boosted their target price on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Finally, 888 restated a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.00.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the completion of the transaction, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the completion of the transaction, the director now owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the transaction, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,091 shares of company stock valued at $13,530,462. 0.88% of the stock is owned by corporate insiders.
Alphabet Price Performance
GOOGL stock opened at $138.97 on Friday. The stock has a 50-day moving average price of $133.33 and a two-hundred day moving average price of $122.49. The stock has a market cap of $1.75 trillion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $141.22.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period last year, the business earned $1.21 EPS. Equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
About Alphabet
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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