Cape Cod Five Cents Savings Bank Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Cape Cod Five Cents Savings Bank boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,408 shares of the information services provider’s stock after acquiring an additional 116,290 shares during the period. Alphabet accounts for 1.4% of Cape Cod Five Cents Savings Bank’s holdings, making the stock its 17th biggest position. Cape Cod Five Cents Savings Bank’s holdings in Alphabet were worth $11,769,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOOG. Walled Lake Planning & Wealth Management LLC increased its holdings in shares of Alphabet by 1,900.0% during the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after acquiring an additional 32,414 shares in the last quarter. Grand Jean Capital Management Inc. increased its stake in Alphabet by 1,926.2% during the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after purchasing an additional 130,367 shares in the last quarter. Connecticut Wealth Management LLC raised its holdings in shares of Alphabet by 1,415.4% in the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after buying an additional 7,799 shares during the last quarter. Clarity Financial LLC lifted its stake in shares of Alphabet by 2,118.6% during the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after buying an additional 58,940 shares during the period. Finally, Element Wealth LLC grew its holdings in shares of Alphabet by 2,245.1% during the third quarter. Element Wealth LLC now owns 2,861 shares of the information services provider’s stock valued at $275,000 after buying an additional 2,739 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. UBS Group set a $120.00 target price on Alphabet in a research note on Monday, February 6th. Sanford C. Bernstein set a $130.00 target price on Alphabet in a report on Monday, February 6th. Raymond James upped their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Bank of America raised their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

Alphabet Stock Up 2.4 %

Alphabet stock opened at $96.55 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a market capitalization of $1.24 trillion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09. The business has a 50 day simple moving average of $95.12 and a 200-day simple moving average of $96.84. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock worth $3,424,078 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.