Alphabet Inc. (NASDAQ:GOOG) Stock Position Lowered by Northwest Bancshares Inc.

Northwest Bancshares Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,608 shares of the information services provider’s stock after selling 970 shares during the quarter. Northwest Bancshares Inc.’s holdings in Alphabet were worth $2,944,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. lifted its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Oppenheimer increased their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,295 shares of company stock valued at $30,698,791 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $179.58 on Wednesday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The firm’s fifty day simple moving average is $168.15 and its 200 day simple moving average is $171.87. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.20 trillion, a PE ratio of 23.82, a PEG ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the business posted $1.55 EPS. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is presently 10.61%.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.