Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Webster Bank N. A.

13 Oct 2024, 22:54 by Tristan Rich · The Markets Daily

Webster Bank N. A. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 25,475 shares of the information services provider’s stock after selling 476 shares during the period. Webster Bank N. A.’s holdings in Alphabet were worth $4,259,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Clarity Capital Partners LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $291,000. WNY Asset Management LLC grew its holdings in shares of Alphabet by 15.1% in the fourth quarter. WNY Asset Management LLC now owns 16,663 shares of the information services provider’s stock valued at $2,348,000 after purchasing an additional 2,185 shares during the period. Scarborough Advisors LLC grew its holdings in shares of Alphabet by 526.4% in the fourth quarter. Scarborough Advisors LLC now owns 14,088 shares of the information services provider’s stock valued at $1,985,000 after purchasing an additional 11,839 shares during the period. Sierra Summit Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $799,000. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in shares of Alphabet by 6.1% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 50,270 shares of the information services provider’s stock valued at $7,085,000 after purchasing an additional 2,870 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of GOOG traded up $1.34 during mid-day trading on Friday, hitting $164.52. 10,945,971 shares of the company’s stock were exchanged, compared to its average volume of 19,793,420. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50-day moving average is $162.81 and its 200-day moving average is $169.25.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GOOG shares. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. UBS Group lowered their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Pivotal Research initiated coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Read Our Latest Stock Analysis on GOOG

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock valued at $35,644,136 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)