Northwest Bank & Trust Co Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Northwest Bank & Trust Co bought a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,094 shares of the information services provider’s stock, valued at approximately $2,527,000. Alphabet comprises 2.3% of Northwest Bank & Trust Co’s holdings, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. RWQ Financial Management Services Inc. boosted its stake in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management boosted its stake in Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley boosted its stake in Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC acquired a new position in Alphabet during the 4th quarter valued at about $787,000. Finally, Quantum Financial Advisors LLC boosted its stake in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Stifel Nicolaus reissued a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Susquehanna boosted their target price on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Royal Bank of Canada boosted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $193.26.

Read Our Latest Analysis on GOOGL

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $1.63 during trading hours on Friday, hitting $176.79. 18,063,555 shares of the stock were exchanged, compared to its average volume of 21,874,168. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company’s 50 day moving average is $168.08 and its 200 day moving average is $151.00. The firm has a market capitalization of $2.18 trillion, a P/E ratio of 27.12, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.41.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $149.50, for a total transaction of $74,750.00. Following the sale, the director now owns 8,791 shares of the company’s stock, valued at approximately $1,314,254.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $149.50, for a total transaction of $74,750.00. Following the completion of the transaction, the director now directly owns 8,791 shares in the company, valued at approximately $1,314,254.50. The disclosure for this sale can be found here. Insiders have sold a total of 158,958 shares of company stock valued at $25,805,853 in the last 90 days. 11.55% of the stock is currently owned by insiders.

About Alphabet

(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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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