Wesbanco Bank Inc. Has $98.86 Million Holdings in Alphabet Inc. $GOOGL

Wesbanco Bank Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 343,807 shares of the information services provider’s stock after selling 7,633 shares during the period. Alphabet comprises approximately 2.7% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 5th largest position. Wesbanco Bank Inc.’s holdings in Alphabet were worth $98,865,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after acquiring an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank grew its position in Alphabet by 6.9% during the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after acquiring an additional 3,120 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.4%

NASDAQ GOOGL opened at $359.91 on Friday. The firm has a market capitalization of $4.36 trillion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The business’s 50-day moving average price is $370.64 and its two-hundred day moving average price is $334.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $172.77 and a 12 month high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, analysts expect that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud is gaining traction in enterprise AI and banking, with new wins like Jack Henry and Intesa Sanpaolo supporting Alphabet’s cloud growth story. GOOGL’s AI Cloud Strategy Gets a Boost From Jack Henry: What’s Ahead?
• Positive Sentiment: Analysts and market commentary continue to frame Alphabet as a strong growth and momentum stock, reflecting confidence in earnings and AI-driven upside. Here’s Why Alphabet (GOOGL) is a Strong Momentum Stock
• Positive Sentiment: Google’s disruption of a proxy network used in malware operations supports its security reputation and could modestly lift sentiment around the platform. Google disrupts NetNut proxy network used in malware operations
• Positive Sentiment: Commentary around AI shopping and agentic commerce suggests Alphabet’s Gemini ecosystem could become a larger long-term growth catalyst. Agentic Shopping Is Coming. These Stocks Will Ride Walmart’s Google AI Bet.
• Neutral Sentiment: Small insider sales by Alphabet executives and directors appear routine and do not by themselves change the stock’s outlook. Alphabet (NASDAQ:GOOGL) Insider John Kent Walker Sells 8,998 Shares
• Negative Sentiment: The EU court upheld a huge Android antitrust fine, extending Alphabet’s regulatory overhang and keeping legal risk in focus. EU top court dismisses Google fight against record €4.1 billion EU antitrust fine
• Negative Sentiment: Swedish court damages in the comparison-shopping case add another sign that regulators are willing to punish Google’s search and shopping practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Monday, June 22nd. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Monday, May 4th. HSBC reaffirmed a “buy” rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Friday, May 29th. Finally, Wolfe Research cut their target price on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.54.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.