Huntington National Bank Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Huntington National Bank boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the third quarter, Holdings Channel reports. The institutional investor owned 233,305 shares of the information services provider’s stock after acquiring an additional 762 shares during the quarter. Huntington National Bank’s holdings in Alphabet were worth $39,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC grew its stake in 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 buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during 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 purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $180.49 on Thursday. The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The company has a 50-day moving average price of $165.75 and a 200-day moving average price of $171.50. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,495 shares of company stock worth $34,586,641 over the last 90 days. 12.99% of the stock is owned by company insiders.

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