Northwest Bank & Trust Co Sells 178 Shares of Alphabet Inc. (NASDAQ:GOOG)

Northwest Bank & Trust Co lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,666 shares of the information services provider’s stock after selling 178 shares during the quarter. Alphabet accounts for 3.1% of Northwest Bank & Trust Co’s holdings, making the stock its 7th largest holding. Northwest Bank & Trust Co’s holdings in Alphabet were worth $4,126,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $27,000. LSV Asset Management acquired a new position in Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 2.9%

NASDAQ:GOOG opened at $170.06 on Thursday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $160.23 and its 200-day simple moving average is $176.62. The firm has a market cap of $2.06 trillion, a P/E ratio of 21.13, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Westpark Capital reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $203.94.

Insider Buying and Selling

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,744 shares of company stock valued at $20,968,366 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

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.