Webster Bank N. A. Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Webster Bank N. A. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,839 shares of the information services provider’s stock after buying an additional 2,208 shares during the quarter. Alphabet comprises 2.4% of Webster Bank N. A.’s portfolio, making the stock its 8th biggest holding. Webster Bank N. A.’s holdings in Alphabet were worth $21,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth about $38,000. Armor Investment Advisors LLC lifted its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 142,344 shares of company stock valued at $23,920,676. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Susquehanna increased their price target on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Tigress Financial lifted their price objective on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. KeyCorp upped their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Roth Mkm raised their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Stock Up 0.5 %

Alphabet stock opened at $182.99 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05. The company has a fifty day simple moving average of $172.85 and a 200 day simple moving average of $154.44. The company has a market cap of $2.26 trillion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the company earned $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

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.