Cape Cod Five Cents Savings Bank Sells 6,534 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cape Cod Five Cents Savings Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,707 shares of the information services provider’s stock after selling 6,534 shares during the period. Alphabet accounts for approximately 1.7% of Cape Cod Five Cents Savings Bank’s investment portfolio, making the stock its 13th largest holding. Cape Cod Five Cents Savings Bank’s holdings in Alphabet were worth $18,472,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the 3rd quarter worth $25,000. Abich Financial Wealth Management LLC raised its stake 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 valued at $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the third quarter worth about $33,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter worth about $37,000. Finally, HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter valued at about $40,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOG opened at $176.49 on Monday. The stock has a market cap of $2.16 trillion, a P/E ratio of 23.41, a P/E/G ratio of 1.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a fifty day moving average price of $171.06 and a 200 day moving average price of $171.71. Alphabet Inc. has a 1 year low of $131.06 and a 1 year high of $193.31.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

About Alphabet

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.