Peoples Bank OH Acquires 442 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Peoples Bank OH lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,623 shares of the information services provider’s stock after buying an additional 442 shares during the quarter. Peoples Bank OH’s holdings in Alphabet were worth $1,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. BOCHK Asset Management Ltd acquired a new position in shares of Alphabet during the third quarter valued at $5,108,000. IFM Investors Pty Ltd boosted its holdings in Alphabet by 1.0% in the third quarter. IFM Investors Pty Ltd now owns 1,147,467 shares of the information services provider’s stock valued at $190,307,000 after acquiring an additional 11,761 shares during the last quarter. Bogart Wealth LLC increased its position in Alphabet by 54.5% in the third quarter. Bogart Wealth LLC now owns 110,404 shares of the information services provider’s stock worth $18,310,000 after purchasing an additional 38,967 shares during the period. Finally, Jackson Wealth Management LLC grew its position in shares of Alphabet by 73.5% during the 3rd quarter. Jackson Wealth Management LLC now owns 43,717 shares of the information services provider’s stock worth $7,251,000 after buying an additional 18,520 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.2 %

Shares of GOOGL stock opened at $169.24 on Tuesday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.23 and a beta of 1.03. The firm’s 50-day moving average is $162.49 and its 200-day moving average is $169.20.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the company posted $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.91 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction 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 sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,052 shares of company stock worth $38,086,723. 11.55% of the stock is owned by insiders.

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.