Cape ANN Savings Bank Sells 1,320 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cape ANN Savings Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,478 shares of the information services provider’s stock after selling 1,320 shares during the quarter. Alphabet makes up 3.3% of Cape ANN Savings Bank’s investment portfolio, making the stock its 8th largest position. Cape ANN Savings Bank’s holdings in Alphabet were worth $5,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new stake in Alphabet during the 4th quarter worth $30,000. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,316 shares of company stock worth $25,062,887. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $173.86 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $134.00 and a fifty-two week high of $207.05. The firm’s 50-day simple moving average is $188.21 and its 200 day simple moving average is $176.47. The stock has a market cap of $2.12 trillion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Citigroup dropped their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.62.

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.