Cape ANN Savings Bank Sells 250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cape ANN Savings Bank lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,697 shares of the information services provider’s stock after selling 250 shares during the period. Cape ANN Savings Bank’s holdings in Alphabet were worth $894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its position in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOG. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upped their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Trading Down 1.5 %

Shares of GOOG stock opened at $174.70 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company’s fifty day simple moving average is $192.98 and its two-hundred day simple moving average is $177.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In other news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,299 shares of company stock valued at $25,055,751. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.