Webster Bank N. A. Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Webster Bank N. A. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,852.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,085 shares of the information services provider’s stock after purchasing an additional 27,595 shares during the quarter. Webster Bank N. A.’s holdings in Alphabet were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GOOG. DC Investments Management LLC purchased a new stake in shares of Alphabet in the first quarter worth about $115,000. American National Bank lifted its holdings in shares of Alphabet by 23.8% in the second quarter. American National Bank now owns 52 shares of the information services provider’s stock worth $114,000 after buying an additional 10 shares in the last quarter. Guardian Wealth Management Inc. purchased a new stake in shares of Alphabet in the first quarter worth about $184,000. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. Finally, Paragon Private Wealth Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $211,000. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.5 %

Shares of Alphabet stock opened at $89.24 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.54 and a beta of 1.08. The company’s 50 day moving average price is $92.84 and its 200-day moving average price is $103.24.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Monday. Societe Generale lowered their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Oppenheimer lowered their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. Finally, JPMorgan Chase & Co. set a $115.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.43.

Insider Buying and Selling

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is currently owned by insiders.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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