Huntington National Bank Sells 6,918 Shares of Alphabet Inc. $GOOG

Huntington National Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,961 shares of the information services provider’s stock after selling 6,918 shares during the quarter. Huntington National Bank’s holdings in Alphabet were worth $39,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC increased its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the first quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.1%

GOOG stock opened at $278.06 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.86 and a beta of 1.00. The business has a 50-day moving average of $247.49 and a 200-day moving average of $203.10. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 190,896 shares of company stock valued at $45,092,175 in the last ninety days. 12.99% of the stock is owned by company 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.