Plimoth Trust Co. LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Plimoth Trust Co. LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 67,022 shares of the information services provider’s stock after selling 243 shares during the period. Alphabet makes up 3.3% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 5th biggest position. Plimoth Trust Co. LLC’s holdings in Alphabet were worth $12,687,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GOOGL. International Assets Investment Management LLC increased its stake in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Alphabet by 115.4% during the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock valued at $1,264,022,000 after acquiring an additional 3,718,420 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Up 0.1 %

Shares of GOOGL stock opened at $191.60 on Friday. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a fifty day moving average price of $190.83 and a 200-day moving average price of $174.52. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 11.55% of the company’s stock.

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.