Rockland Trust Co. Has $3.43 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Rockland Trust Co. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 6.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,507 shares of the information services provider’s stock after selling 1,356 shares during the period. Rockland Trust Co.’s holdings in Alphabet were worth $3,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $34,000. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the second quarter worth $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the second quarter worth $40,000. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet in the second quarter valued at about $44,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday. They set a “buy” rating and a $215.00 price objective for the company. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.75.

Alphabet Stock Down 0.1 %

Alphabet stock opened at $167.21 on Friday. The company has a 50 day moving average of $163.53 and a 200-day moving average of $168.49. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market capitalization of $2.07 trillion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the business earned $1.44 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 217,592 shares of company stock valued at $35,922,911. 12.99% of the stock is owned by insiders.

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.