Alphabet Inc. $GOOGL Shares Bought by Park National Corp OH

Key Points

• Park National Corp OH increased its Alphabet stake by 0.8% in the first quarter, holding 321,482 shares worth about $92.4 million. Alphabet is now its 7th largest position and makes up 2.8% of the fund’s portfolio.
• Alphabet continues to attract major institutional support, with firms like Vanguard, State Street, Geode Capital Management, and Bank of America also adding to positions. Overall, 40.03% of the stock is owned by institutional investors and hedge funds.
• Wall Street remains constructive on Alphabet: several analysts raised price targets, and the consensus rating is Moderate Buy with a target of $413.13. The company also beat quarterly earnings expectations and recently raised its quarterly dividend to $0.22 per share.

Park National Corp OH grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,482 shares of the information services provider's stock after acquiring an additional 2,665 shares during the quarter. Alphabet accounts for 2.8% of Park National Corp OH's holdings, making the stock its 7th biggest position. Park National Corp OH's holdings in Alphabet were worth $92,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares in the last quarter. State Street Corp boosted its position in shares of Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $30,534,239,000. Finally, Bank of America Corp DE grew its holdings in shares of Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after buying an additional 3,218,852 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider owned 51,808 shares of the company's stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will replace Verizon in the Dow Jones Industrial Average effective June 29, a notable prestige boost that could support passive fund buying and improve investor sentiment. Alphabet Set to Join and Honeywell International to Remain in Dow Jones Industrial Average
• Positive Sentiment: Jefferies reaffirmed its Buy rating on Alphabet, reinforcing confidence in the company’s long-term outlook. Alphabet had its "buy" rating reaffirmed by Jefferies Financial Group Inc.
• Positive Sentiment: Alphabet remains a major AI infrastructure beneficiary, with reports noting accelerating demand at Google Cloud, quarterly cloud revenue above $20 billion, and strong enterprise AI adoption. Alphabet Rides on Accelerating AI Infrastructure Demand: What's Ahead?
• Neutral Sentiment: Google DeepMind announced a $75 million AI research partnership with A24, signaling continued investment in AI applications outside core search and cloud. Google DeepMind signs AI research deal with film studio A24
• Neutral Sentiment: Alphabet is still dominant in search, but new reports suggest competition from AI-powered alternatives is putting pressure on its long-term search leadership. Google's online dominance Is showing signs of cracking in AI era
• Negative Sentiment: Investor sentiment was hurt by the departure of key AI figures, including Noam Shazeer and John Jumper, raising concerns that Alphabet is losing talent to OpenAI and Anthropic. Alphabet paces for worst day in a year on AI concerns after high-profile exits
• Negative Sentiment: Several reports say Google’s search dominance may be starting to crack as users test non-AI or AI-free search options, adding pressure on the company’s core revenue engine. Google Losing Ground as Consumers Seek Out Non-AI Search
• Negative Sentiment: Broader market concern over heavy AI capital spending and higher rates also weighed on megacap tech shares, contributing to Alphabet’s weakness. Alphabet, SpaceX, Intel, and More Stocks That Explain Today's Market

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Truist Financial set a $430.00 price objective on Alphabet and gave the stock a "buy" rating in a research note on Friday, May 29th. Rothschild & Co Redburn boosted their target price on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Guggenheim restated a "buy" rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald lifted their price objective on Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $413.13.

Alphabet Price Performance

GOOGL stock opened at $346.66 on Wednesday. The stock has a 50-day moving average price of $368.25 and a two-hundred day moving average price of $332.50. The stock has a market cap of $4.20 trillion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $166.13 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is 6.71%.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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