Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Webster Bank N. A.

Webster Bank N. A. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,687 shares of the information services provider’s stock after selling 314 shares during the quarter. Webster Bank N. A.’s holdings in Alphabet were worth $4,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $26,000. Partnership Wealth Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock traded down $3.44 during mid-day trading on Friday, hitting $183.42. The stock had a trading volume of 23,032,362 shares, compared to its average volume of 17,822,788. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The firm has a market cap of $2.27 trillion, a PE ratio of 28.13, a PEG ratio of 1.40 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company’s 50-day simple moving average is $174.40 and its 200-day simple moving average is $155.53.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the business earned $1.17 EPS. The business’s revenue was up 15.4% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

A number of research analysts recently commented on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday. Finally, Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,284 shares of company stock worth $24,534,393. Company insiders own 12.99% of the company’s stock.

Alphabet 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.