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

Grove Bank & Trust grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 42,277 shares of the information services provider’s stock after acquiring an additional 3,029 shares during the period. Alphabet comprises about 1.1% of Grove Bank & Trust’s portfolio, making the stock its 19th largest holding. Grove Bank & Trust’s holdings in Alphabet were worth $5,958,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tandem Wealth Advisors LLC acquired a new stake in Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet during the 4th quarter valued at $26,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet during the 4th quarter valued at $28,000. Finally, Buck Wealth Strategies LLC acquired a new stake in Alphabet during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 228,839 shares of company stock worth $32,835,757 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $159.86.

Alphabet Trading Down 0.2 %

Alphabet stock opened at $156.00 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The company’s fifty day moving average price is $146.95 and its two-hundred day moving average price is $141.51.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Alphabet Profile

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.