Park National Corp OH Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)


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Park National Corp OH cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 740 shares of the information services provider’s stock after selling 112 shares during the quarter. Park National Corp OH’s holdings in Alphabet were worth $1,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,443,194 shares of the information services provider’s stock valued at $23,550,863,000 after purchasing an additional 46,822 shares in the last quarter. FMR LLC grew its position in shares of Alphabet by 0.9% in the fourth quarter. FMR LLC now owns 7,753,822 shares of the information services provider’s stock valued at $13,583,766,000 after purchasing an additional 66,564 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Alphabet by 2.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,888,003 shares of the information services provider’s stock valued at $5,059,434,000 after purchasing an additional 73,880 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 4.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,789,377 shares of the information services provider’s stock valued at $4,886,654,000 after purchasing an additional 106,316 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Alphabet by 6.5% in the fourth quarter. Morgan Stanley now owns 2,509,483 shares of the information services provider’s stock valued at $4,396,316,000 after purchasing an additional 152,485 shares in the last quarter. Institutional investors own 31.94% of the company’s stock.

Several research firms recently commented on GOOG. Citigroup restated a “buy” rating on shares of Alphabet in a research report on Friday, February 12th. Canaccord Genuity boosted their target price on Alphabet from $2,250.00 to $2,400.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “buy” rating and set a $2,390.00 target price (up from $2,050.00) on shares of Alphabet in a research report on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Alphabet from $2,250.00 to $2,600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Finally, Evercore ISI began coverage on Alphabet in a research report on Tuesday. They set an “outperform” rating and a $2,525.00 target price for the company. One equities research analyst has rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $2,244.11.

NASDAQ GOOG opened at $2,278.41 on Thursday. Alphabet Inc. has a 1-year low of $1,187.60 and a 1-year high of $2,255.00. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $2,078.40 and a 200-day moving average of $1,819.99. The firm has a market cap of $1.54 trillion, a PE ratio of 43.47, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, beating analysts’ consensus estimates of $15.91 by $6.39. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $56.90 billion during the quarter, compared to analyst estimates of $52.86 billion. During the same quarter in the previous year, the company posted $15.35 EPS. Alphabet’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

In other Alphabet news, SVP Prabhakar Raghavan sold 2,524 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $2,152.94, for a total transaction of $5,434,020.56. Following the completion of the transaction, the senior vice president now owns 2 shares of the company’s stock, valued at approximately $4,305.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the transaction, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at approximately $13,976,854.50. The disclosure for this sale can be found here. In the last three months, insiders sold 14,034 shares of company stock valued at $28,870,417. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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