Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Webster Bank N. A.

Webster Bank N. A. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,138 shares of the information services provider’s stock after selling 337 shares during the period. Webster Bank N. A.’s holdings in Alphabet were worth $4,787,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GOOG. SPC Financial Inc. acquired a new stake in Alphabet during the second quarter valued at $287,000. New Century Financial Group LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth about $385,000. RiverFront Investment Group LLC lifted its holdings in shares of Alphabet by 14.0% during the 2nd quarter. RiverFront Investment Group LLC now owns 214,555 shares of the information services provider’s stock valued at $39,354,000 after buying an additional 26,430 shares during the last quarter. Farmers National Bank grew its stake in shares of Alphabet by 91.9% in the 2nd quarter. Farmers National Bank now owns 8,927 shares of the information services provider’s stock valued at $1,637,000 after buying an additional 4,274 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Alphabet in the second quarter worth approximately $607,000. 27.26% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup upped their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Price Performance

Shares of GOOG stock opened at $197.18 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99. The firm’s 50 day moving average is $188.64 and its 200-day moving average is $175.20. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.