Ipswich Investment Management Co. Inc. Has $2.90 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Ipswich Investment Management Co. Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,247 shares of the information services provider’s stock after selling 724 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Alphabet were worth $2,904,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the last quarter. Finally, Maryland Capital Advisors Inc. grew its holdings in Alphabet by 33.0% during the 4th quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOG opened at $181.19 on Tuesday. The stock’s fifty day simple moving average is $193.68 and its 200 day simple moving average is $177.58. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The stock has a market cap of $2.21 trillion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.