Cape Cod Five Cents Savings Bank Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cape Cod Five Cents Savings Bank reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,707 shares of the information services provider’s stock after selling 6,534 shares during the period. Alphabet accounts for 1.7% of Cape Cod Five Cents Savings Bank’s portfolio, making the stock its 13th biggest holding. Cape Cod Five Cents Savings Bank’s holdings in Alphabet were worth $18,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GOOG. Nomura Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 6.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,746,192 shares of the information services provider’s stock valued at $459,136,000 after buying an additional 176,110 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Alphabet by 143.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 39,545 shares of the information services provider’s stock worth $6,612,000 after acquiring an additional 23,289 shares during the period. MML Investors Services LLC boosted its stake in shares of Alphabet by 2.9% in the third quarter. MML Investors Services LLC now owns 597,547 shares of the information services provider’s stock worth $99,904,000 after acquiring an additional 17,015 shares during the period. Montchanin Asset Management LLC grew its position in shares of Alphabet by 0.7% during the third quarter. Montchanin Asset Management LLC now owns 36,828 shares of the information services provider’s stock worth $6,157,000 after purchasing an additional 270 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its stake in Alphabet by 270.0% during the 3rd quarter. K2 Principal Fund L.P. now owns 25,000 shares of the information services provider’s stock valued at $4,180,000 after purchasing an additional 18,244 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock worth $27,803,730 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOG shares. Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Up 1.3 %

Shares of NASDAQ GOOG opened at $176.49 on Monday. The business’s 50 day moving average price is $171.06 and its 200-day moving average price is $171.71. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.23 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 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.