Rockland Trust Co. Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Rockland Trust Co. decreased its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,006 shares of the information services provider’s stock after selling 109 shares during the period. Rockland Trust Co.’s holdings in Alphabet were worth $2,201,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Armstrong Henry H Associates Inc. boosted its position in shares of Alphabet by 1.1% during the 2nd quarter. Armstrong Henry H Associates Inc. now owns 5,020 shares of the information services provider’s stock worth $10,981,000 after purchasing an additional 53 shares during the period. Parkside Investments LLC boosted its position in shares of Alphabet by 3.9% during the 2nd quarter. Parkside Investments LLC now owns 5,582 shares of the information services provider’s stock worth $12,210,000 after purchasing an additional 212 shares during the period. Sargent Bickham Lagudis LLC boosted its position in shares of Alphabet by 10.9% during the 2nd quarter. Sargent Bickham Lagudis LLC now owns 1,588 shares of the information services provider’s stock worth $3,474,000 after purchasing an additional 156 shares during the period. ERN LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $1,531,000. Finally, Professional Advisory Services Inc. lifted its holdings in Alphabet by 13.7% during the 2nd quarter. Professional Advisory Services Inc. now owns 13,778 shares of the information services provider’s stock worth $30,139,000 after buying an additional 1,660 shares in the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Oppenheimer reduced their target price on shares of Alphabet from $3,290.00 to $165.00 in a report on Tuesday, July 19th. MKM Partners reduced their target price on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Cowen reduced their target price on shares of Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. Guggenheim reduced their target price on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Susquehanna reduced their target price on shares of Alphabet from $187.00 to $150.00 in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.05.

Insider Activity

In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the sale, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the sale, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold a total of 44,536 shares of company stock valued at $15,729,998 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.6 %

Shares of Alphabet stock opened at $100.57 on Friday. Alphabet Inc. has a 1 year low of $99.41 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market capitalization of $1.31 trillion, a P/E ratio of 18.71, a PEG ratio of 1.65 and a beta of 1.08. The company’s fifty day moving average is $112.60 and its two-hundred day moving average is $118.39.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. During the same period in the previous year, the business posted $27.26 earnings per share. Analysts forecast that Alphabet Inc. will post 5.21 earnings per share for the current year.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.