Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,910 shares of the information services provider’s stock after selling 144 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Alphabet were worth $1,987,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at $32,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter valued at $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Finally, Quarry LP acquired a new stake in Alphabet during the 2nd quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. Loop Capital increased their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.08.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock worth $34,413,006 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $196.66 on Tuesday. The stock’s 50 day simple moving average is $172.31 and its 200-day simple moving average is $170.80. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.41 trillion, a PE ratio of 26.08, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $199.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.