Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,999 shares of the information services provider’s stock after acquiring an additional 7,882 shares during the quarter. Zions Bancorporation N.A.’s holdings in Alphabet were worth $6,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank boosted its position in shares of Alphabet by 1.5% during the 3rd quarter. Huntington National Bank now owns 1,558,043 shares of the information services provider’s stock valued at $258,402,000 after acquiring an additional 23,743 shares during the last quarter. Summit Asset Management LLC boosted its position in shares of Alphabet by 12.5% during the 3rd quarter. Summit Asset Management LLC now owns 2,692 shares of the information services provider’s stock valued at $446,000 after acquiring an additional 300 shares during the last quarter. ROI Financial Advisors LLC boosted its position in shares of Alphabet by 2.4% during the 3rd quarter. ROI Financial Advisors LLC now owns 36,537 shares of the information services provider’s stock valued at $6,060,000 after acquiring an additional 869 shares during the last quarter. Plato Investment Management Ltd boosted its position in shares of Alphabet by 1.4% during the 3rd quarter. Plato Investment Management Ltd now owns 132,819 shares of the information services provider’s stock valued at $22,006,000 after acquiring an additional 1,840 shares during the last quarter. Finally, Bell Bank raised its holdings in Alphabet by 17.5% in the 3rd quarter. Bell Bank now owns 38,989 shares of the information services provider’s stock valued at $6,466,000 after buying an additional 5,817 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the 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 sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $169.23 on Thursday. The stock has a 50 day moving average price of $168.22 and a 200 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 company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOGL. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. JMP Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Finally, Roth Mkm boosted their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.