Park National Corp OH Sells 25,460 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Park National Corp OH decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,358 shares of the information services provider’s stock after selling 25,460 shares during the period. Alphabet comprises approximately 2.7% of Park National Corp OH’s portfolio, making the stock its 7th largest position. Park National Corp OH’s holdings in Alphabet were worth $74,841,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. First PREMIER Bank raised its holdings in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Cutler Investment Counsel LLC raised its holdings in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares during the last quarter. MKT Advisors LLC lifted its position in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. Finally, Mendota Financial Group LLC increased its position in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

Alphabet Stock Performance

NASDAQ GOOGL opened at $195.49 on Wednesday. The company’s 50 day moving average is $181.36 and its 200-day moving average is $172.72. The firm has a market cap of $2.39 trillion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Company 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.