Ipswich Investment Management Co. Inc. Buys 160 Shares of Alphabet Inc. (NASDAQ:GOOG)

Ipswich Investment Management Co. Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,996 shares of the information services provider’s stock after acquiring an additional 160 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Alphabet were worth $2,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Apeiron RIA LLC bought a new position in Alphabet in the 2nd quarter worth about $242,000. Diversified Trust Co boosted its position in Alphabet by 3.1% during the 2nd quarter. Diversified Trust Co now owns 109,661 shares of the information services provider’s stock valued at $20,114,000 after buying an additional 3,261 shares during the period. Maia Wealth LLC bought a new stake in Alphabet in the 2nd quarter worth $781,000. Traveka Wealth LLC increased its position in shares of Alphabet by 23.3% in the second quarter. Traveka Wealth LLC now owns 4,834 shares of the information services provider’s stock valued at $887,000 after acquiring an additional 914 shares during the period. Finally, MCIA Inc raised its stake in shares of Alphabet by 26.7% during the second quarter. MCIA Inc now owns 1,903 shares of the information services provider’s stock valued at $358,000 after acquiring an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $182.86.

Alphabet Stock Down 3.5 %

Shares of GOOG stock traded down $5.85 during mid-day trading on Wednesday, hitting $160.08. The company’s stock had a trading volume of 8,012,883 shares, compared to its average volume of 20,415,338. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $1.98 trillion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.28 and a beta of 1.05. The business has a 50-day moving average price of $178.20 and a 200 day moving average price of $163.67.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 121,608 shares of company stock valued at $21,567,504 over the last 90 days. 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.