Wesbanco Bank Inc. Grows Stock Holdings in Alphabet Inc. $GOOG

Wesbanco Bank Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 80,256 shares of the information services provider’s stock after purchasing an additional 1,468 shares during the period. Wesbanco Bank Inc.’s holdings in Alphabet were worth $14,237,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. ARQ Wealth Advisors LLC lifted its holdings in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Fermata Advisors LLC lifted its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after purchasing an additional 259 shares during the last quarter. jvl associates llc raised its holdings in Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after acquiring an additional 343 shares during the last quarter. Finally, Members Trust Co raised its holdings in Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after acquiring an additional 2,292 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $241.38 on Friday. The firm has a market cap of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $202.67 and a two-hundred day simple moving average of $178.86. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a report on Wednesday, September 3rd. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Alphabet Company 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.