Park National Corp OH Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Park National Corp OH lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 740 shares of the information services provider’s stock after selling 112 shares during the quarter. Park National Corp OH’s holdings in Alphabet were worth $1,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOG. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth $2,118,088,000. Cibc World Markets Corp increased its stake in Alphabet by 537.3% in the 4th quarter. Cibc World Markets Corp now owns 725,784 shares of the information services provider’s stock worth $1,271,486,000 after buying an additional 611,904 shares in the last quarter. Egerton Capital UK LLP increased its stake in Alphabet by 85.6% in the 4th quarter. Egerton Capital UK LLP now owns 675,668 shares of the information services provider’s stock worth $1,183,689,000 after buying an additional 311,706 shares in the last quarter. Sanders Capital LLC increased its stake in Alphabet by 11.6% in the 4th quarter. Sanders Capital LLC now owns 1,526,442 shares of the information services provider’s stock worth $2,866,248,000 after buying an additional 158,383 shares in the last quarter. Finally, Morgan Stanley increased its stake in Alphabet by 6.5% in the 4th quarter. Morgan Stanley now owns 2,509,483 shares of the information services provider’s stock worth $4,396,316,000 after buying an additional 152,485 shares in the last quarter. Institutional investors and hedge funds own 31.94% of the company’s stock.

GOOG has been the subject of a number of research analyst reports. Morgan Stanley raised their price objective on Alphabet from $2,050.00 to $2,200.00 and gave the company an “overweight” rating in a research report on Wednesday, February 3rd. Wedbush raised their price objective on Alphabet from $2,150.00 to $2,470.00 and gave the company an “outperform” rating in a research report on Wednesday, February 3rd. Raymond James raised their price objective on Alphabet from $1,800.00 to $2,440.00 and gave the company an “outperform” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. Canaccord Genuity raised their price objective on Alphabet from $2,250.00 to $2,400.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $2,390.00 price objective (up previously from $2,050.00) on shares of Alphabet in a research report on Wednesday, February 3rd. One analyst has rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $2,244.11.

Shares of NASDAQ GOOG opened at $2,278.41 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. The company has a market cap of $1.54 trillion, a P/E ratio of 43.47, a PEG ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a 1 year low of $1,187.60 and a 1 year high of $2,255.00. The firm has a 50-day simple moving average of $2,078.40 and a two-hundred day simple moving average of $1,819.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.91 by $6.39. The business had revenue of $56.90 billion during the quarter, compared to the consensus estimate of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned $15.35 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 52.19 EPS for the current year.

In other news, CAO Amie Thuener O’toole sold 30 shares of Alphabet stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the sale, the chief accounting officer now owns 966 shares of the company’s stock, valued at $2,079,740.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of Alphabet stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total transaction of $6,205,500.00. Following the sale, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at approximately $13,976,854.50. The disclosure for this sale can be found here. Insiders have sold 14,034 shares of company stock valued at $28,870,417 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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