Alphabet Inc. (NASDAQ:GOOGL) is Cape ANN Savings Bank’s 9th Largest Position

Cape ANN Savings Bank decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,908 shares of the information services provider’s stock after selling 1,055 shares during the period. Alphabet accounts for 3.4% of Cape ANN Savings Bank’s investment portfolio, making the stock its 9th largest position. Cape ANN Savings Bank’s holdings in Alphabet were worth $5,171,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter worth about $38,000. Meritage Group LP boosted its holdings in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC increased its position in shares of 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 last quarter. Finally, IAG Wealth Partners LLC lifted its position in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GOOGL shares. Mizuho raised their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Evercore ISI raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Roth Mkm boosted their price objective on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup raised their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Argus increased their price objective on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, 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. Insiders sold 158,458 shares of company stock worth $25,731,103 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $177.24 on Tuesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $180.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average is $168.53 and its 200 day moving average is $151.42. The stock has a market capitalization of $2.19 trillion, a PE ratio of 27.18, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the business earned $1.17 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) 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.