Grove Bank & Trust Sells 4,299 Shares of Alphabet Inc. $GOOG

Grove Bank & Trust lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 11.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,955 shares of the information services provider’s stock after selling 4,299 shares during the quarter. Grove Bank & Trust’s holdings in Alphabet were worth $7,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC grew its stake in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. University of Illinois Foundation bought a new position in shares of Alphabet during the second quarter valued at about $31,000. Finally, Fairman Group LLC increased its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. The trade was a 7.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 193,028 shares of company stock valued at $53,188,134. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. BNP Paribas began coverage on Alphabet in a research report on Monday, November 24th. They set an “outperform” rating on the stock. DA Davidson set a $300.00 target price on shares of Alphabet in a report on Tuesday, November 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $313.04.

Alphabet Stock Performance

NASDAQ:GOOG opened at $307.73 on Wednesday. The stock has a market cap of $3.71 trillion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The firm’s fifty day simple moving average is $286.12 and its 200 day simple moving average is $232.65. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the business earned $2.12 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Alphabet 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.