Grove Bank & Trust Buys 1,210 Shares of Alphabet Inc. (NASDAQ:GOOG)

Grove Bank & Trust increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,397 shares of the information services provider’s stock after acquiring an additional 1,210 shares during the quarter. Alphabet makes up about 1.1% of Grove Bank & Trust’s portfolio, making the stock its 18th largest position. Grove Bank & Trust’s holdings in Alphabet were worth $8,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of GOOG. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth approximately $25,000. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter worth approximately $33,000. HWG Holdings LP bought a new position in Alphabet in the second quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOG opened at $197.55 on Tuesday. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The stock has a fifty day moving average of $185.92 and a 200 day moving average of $174.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 company had revenue of $88.27 billion during 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 firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on 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 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.