Park National Corp OH Sells 2,425 Shares of Alphabet Inc. (NASDAQ:GOOG)

Park National Corp OH cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,208 shares of the information services provider's stock after selling 2,425 shares during the period. Park National Corp OH's holdings in Alphabet were worth $1,439,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new position in Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the 4th quarter valued at about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director now directly owns 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 164,533 shares of company stock valued at $26,772,774. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. 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. Citigroup restated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, Benchmark restated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $203.94.

Alphabet Stock Performance

NASDAQ:GOOG traded down $2.09 during midday trading on Friday, reaching $170.87. The stock had a trading volume of 36,230,934 shares, compared to its average volume of 20,270,834. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm's fifty day simple moving average is $160.88 and its 200-day simple moving average is $176.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company 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%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a 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 dividend payout ratio (DPR) is currently 9.36%.

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.