Huntington National Bank Purchases 23,743 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Huntington National Bank raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,558,043 shares of the information services provider’s stock after purchasing an additional 23,743 shares during the period. Alphabet comprises approximately 1.9% of Huntington National Bank’s portfolio, making the stock its 7th biggest holding. Huntington National Bank’s holdings in Alphabet were worth $258,402,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the second quarter valued at $41,000. Quarry LP purchased a new stake in shares of Alphabet in the second quarter valued at $53,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Alphabet in the second quarter valued at $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOGL shares. Royal Bank of Canada upped their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp increased their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $169.23 on Thursday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The business has a 50 day moving average price of $168.22 and a two-hundred day moving average price of $170.34. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.07 trillion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. 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 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

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.