Cape ANN Savings Bank Sells 80 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cape ANN Savings Bank lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,822 shares of the information services provider’s stock after selling 80 shares during the quarter. Cape ANN Savings Bank’s holdings in Alphabet were worth $826,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the fourth quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new position in Alphabet in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’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 completion of the sale, 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 SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock valued at $25,731,103 in the last quarter. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Price Performance

Shares of GOOG opened at $178.78 on Tuesday. The firm’s 50-day simple moving average is $170.11 and its two-hundred day simple moving average is $152.83. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $182.08. The stock has a market cap of $2.21 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 EPS. Analysts anticipate that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Alphabet Company 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.