Alphabet Inc. (NASDAQ:GOOG) Holdings Raised by Norwood Financial Corp

Norwood Financial Corp boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 70.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 945 shares of the information services provider’s stock after buying an additional 390 shares during the quarter. Norwood Financial Corp’s holdings in Alphabet were worth $144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at $4,101,040,000. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 11.3% during the 3rd 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. International Assets Investment Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at $11,600,970,000. Cerity Partners LLC raised its holdings in shares of Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated 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 in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated 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 in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,284 shares of company stock worth $24,534,393. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Stock Performance

NASDAQ GOOG traded down $3.44 during midday trading on Friday, hitting $183.42. The company had a trading volume of 23,020,275 shares, compared to its average volume of 21,313,381. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.39 and a beta of 1.01. The firm has a fifty day simple moving average of $174.40 and a two-hundred day simple moving average of $155.53. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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 company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. Equities analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.