Alphabet Inc (NASDAQ:GOOG) Holdings Trimmed by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank lowered its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,189 shares of the information services provider’s stock after selling 352 shares during the quarter. Alphabet makes up approximately 1.2% of Cape Cod Five Cents Savings Bank’s holdings, making the stock its 21st biggest position. Cape Cod Five Cents Savings Bank’s holdings in Alphabet were worth $7,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Burt Wealth Advisors increased its holdings in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares during the period. Archford Capital Strategies LLC boosted its stake in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares during the period. Almanack Investment Partners LLC. boosted its stake in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares during the period. Finally, St. Johns Investment Management Company LLC boosted its stake in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after purchasing an additional 157 shares during the period. 34.66% of the stock is owned by hedge funds and other institutional investors.

GOOG has been the subject of several recent analyst reports. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. Wells Fargo & Co restated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. UBS Group restated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Jefferies Group restated a “buy” rating on shares of Alphabet in a research note on Friday. Finally, Societe Generale restated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,061.56.

Alphabet Inc (NASDAQ:GOOG) traded down $55.80 during mid-day trading on Friday, reaching $1,111.90. The company’s stock had a trading volume of 4,860,000 shares, compared to its average volume of 1,310,000. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a twelve month low of $795.25 and a twelve month high of $1,186.89. The stock has a market capitalization of $738,030.00, a price-to-earnings ratio of 61.94 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a return on equity of 15.00% and a net margin of 11.42%. The business had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the previous year, the business earned $9.36 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis.

Alphabet declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

In other Alphabet news, Director Ann Mather sold 38 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1,162.61, for a total value of $44,179.18. Following the sale, the director now owns 1,829 shares in the company, valued at $2,126,413.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James Grier Campbell sold 184 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $1,012.66, for a total value of $186,329.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,955 shares of company stock worth $34,431,704. Insiders own 13.92% of the company’s stock.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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