Park National Corp OH Has $41.46 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Park National Corp OH lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,027 shares of the information services provider’s stock after selling 771 shares during the quarter. Alphabet accounts for about 2.0% of Park National Corp OH’s investment portfolio, making the stock its 7th largest position. Park National Corp OH’s holdings in Alphabet were worth $41,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Amalgamated Bank raised its position in Alphabet by 3.2% in the 1st quarter. Amalgamated Bank now owns 81,996 shares of the information services provider’s stock valued at $228,060,000 after purchasing an additional 2,578 shares during the last quarter. Stelac Advisory Services LLC raised its position in Alphabet by 18.9% in the 1st quarter. Stelac Advisory Services LLC now owns 126 shares of the information services provider’s stock valued at $350,000 after purchasing an additional 20 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Alphabet by 2.0% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 21,599 shares of the information services provider’s stock valued at $60,062,000 after purchasing an additional 430 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in Alphabet in the 1st quarter valued at $94,000. Finally, Hellman Jordan Management Co. Inc. MA raised its position in Alphabet by 66.6% in the 1st quarter. Hellman Jordan Management Co. Inc. MA now owns 1,141 shares of the information services provider’s stock valued at $3,174,000 after purchasing an additional 456 shares during the last quarter. Institutional investors own 1.88% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 20 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $110.00, for a total value of $165,000.00. Following the completion of the sale, the director now directly owns 33,260 shares of the company’s stock, valued at $3,658,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,536 shares of company stock valued at $15,729,998. Insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Barclays cut their price objective on Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, July 5th. BNP Paribas downgraded Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a research report on Wednesday, July 20th. Oppenheimer dropped their target price on Alphabet to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Stifel Nicolaus set a $155.00 target price on Alphabet in a research report on Monday, July 18th. Finally, Jefferies Financial Group dropped their target price on Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

Alphabet Stock Down 0.1 %

NASDAQ:GOOGL opened at $102.80 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market cap of $1.34 trillion, a PE ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. Alphabet Inc. has a 52-week low of $100.94 and a 52-week high of $151.55. The stock has a 50-day simple moving average of $112.93 and a 200 day simple moving average of $118.84.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. During the same period last year, the company posted $27.26 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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