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

Webster Bank N. A. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,687 shares of the information services provider’s stock after selling 314 shares during the period. Webster Bank N. A.’s holdings in Alphabet were worth $4,063,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Capital International Investors grew its position in shares of Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares in the last quarter. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at about $4,101,040,000. Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC grew its position in shares of Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.8 %

Shares of NASDAQ:GOOG traded down $3.44 during trading on Friday, reaching $183.42. The company’s stock had a trading volume of 23,032,362 shares, compared to its average volume of 17,822,788. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.27 trillion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The firm’s 50 day simple moving average is $174.40 and its two-hundred day simple moving average is $155.53.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 over the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday. Finally, Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.86.

About Alphabet

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.