First County Bank CT Sells 694 Shares of Alphabet Inc. (NASDAQ:GOOG)

First County Bank CT decreased its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,786 shares of the information services provider’s stock after selling 694 shares during the period. First County Bank CT’s holdings in Alphabet were worth $911,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Alphabet by 27.8% during the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock worth $1,375,512,000 after acquiring an additional 1,632,691 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after acquiring an additional 1,630,701 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ:GOOG traded down $1.08 during mid-day trading on Tuesday, reaching $196.88. The stock had a trading volume of 10,909,292 shares, compared to its average volume of 15,097,542. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. 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 firm has a 50 day moving average price of $182.36 and a two-hundred day moving average price of $174.11. The stock has a market capitalization of $2.41 trillion, a P/E ratio of 26.11, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, 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 was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer boosted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Read Our Latest Stock Analysis on Alphabet

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,887 shares of company stock worth $27,996,356. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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