Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Grove Bank & Trust

Grove Bank & Trust boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,934.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 36,316 shares of the information services provider’s stock after buying an additional 34,531 shares during the quarter. Alphabet makes up about 0.9% of Grove Bank & Trust’s holdings, making the stock its 25th biggest holding. Grove Bank & Trust’s holdings in Alphabet were worth $3,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MTM Investment Management LLC grew its stake in shares of Alphabet by 1,915.1% in the third quarter. MTM Investment Management LLC now owns 6,529 shares of the information services provider’s stock valued at $628,000 after buying an additional 6,205 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Alphabet by 1,901.8% in the third quarter. Hollencrest Capital Management now owns 28,565 shares of the information services provider’s stock valued at $2,746,000 after buying an additional 27,138 shares in the last quarter. Sunflower Bank N.A. grew its stake in shares of Alphabet by 1,761.5% in the third quarter. Sunflower Bank N.A. now owns 9,922 shares of the information services provider’s stock valued at $954,000 after buying an additional 9,389 shares in the last quarter. Symphony Financial Ltd. Co. grew its stake in shares of Alphabet by 1,921.7% in the third quarter. Symphony Financial Ltd. Co. now owns 28,870 shares of the information services provider’s stock valued at $2,832,000 after buying an additional 27,442 shares in the last quarter. Finally, Elite Wealth Management Inc. boosted its holdings in Alphabet by 1,571.6% in the third quarter. Elite Wealth Management Inc. now owns 15,696 shares of the information services provider’s stock valued at $1,509,000 after purchasing an additional 14,757 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $99.28 on Monday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $93.52 and its two-hundred day moving average is $102.16. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 4.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Oppenheimer decreased their target price on Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Monday, January 9th. Societe Generale decreased their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. UBS Group set a $115.00 target price on Alphabet in a report on Thursday, January 12th. Finally, Sanford C. Bernstein set a $120.00 price target on Alphabet in a report on Thursday, January 12th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.56.

About Alphabet

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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