Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lifted by Ledyard National Bank

Ledyard National Bank increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 109,121 shares of the information services provider’s stock after acquiring an additional 458 shares during the period. Alphabet comprises 1.7% of Ledyard National Bank’s holdings, making the stock its 13th largest position. Ledyard National Bank’s holdings in Alphabet were worth $18,098,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the first quarter worth $30,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter worth $41,000. Finally, Quarry LP acquired a new position in Alphabet during the second quarter worth $53,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $171.29 on Friday. The firm has a 50-day moving average price of $162.43 and a 200-day moving average price of $168.91. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $126.93 and a twelve month high of $191.75. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business posted $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 7.85 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOGL shares. JMP Securities increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday. Citigroup raised their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday. Argus lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Check Out Our Latest Analysis on GOOGL

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock valued at $37,776,954 over the last three months. 11.55% of the stock is owned by company insiders.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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