Ipswich Investment Management Co. Inc. Purchases 165 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ipswich Investment Management Co. Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,794 shares of the information services provider’s stock after buying an additional 165 shares during the quarter. Alphabet accounts for 2.3% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 6th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in Alphabet were worth $10,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the period. American Century Companies Inc. lifted its stake in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. Canada Pension Plan Investment Board lifted its stake in Alphabet by 9.1% during the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock worth $4,237,426,000 after purchasing an additional 1,949,476 shares during the period. International Assets Investment Management LLC lifted its stake in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Alphabet by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 17,520,067 shares of the information services provider’s stock worth $3,191,561,000 after purchasing an additional 1,102,269 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America raised their price target on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. DA Davidson began coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity at Alphabet

In related 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 value of $429,587.55. Following the sale, 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 8.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $168.95 on Friday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $168.47 and a 200-day moving average of $170.33.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

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

About Alphabet

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.