Chapin Davis Inc. Acquires 238 Shares of Alphabet Inc. (NASDAQ:GOOG)

Chapin Davis Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,038 shares of the information services provider’s stock after buying an additional 238 shares during the quarter. Chapin Davis Inc.’s holdings in Alphabet were worth $1,678,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Bangor Savings Bank lifted its position in Alphabet by 2.5% in the 3rd quarter. Bangor Savings Bank now owns 21,477 shares of the information services provider’s stock valued at $3,592,000 after acquiring an additional 527 shares in the last quarter. Versant Capital Management Inc lifted its position in Alphabet by 8.9% during the third quarter. Versant Capital Management Inc now owns 6,283 shares of the information services provider’s stock valued at $1,051,000 after purchasing an additional 512 shares during the period. Pacifica Partners Inc. boosted its stake in shares of Alphabet by 2.7% in the 3rd quarter. Pacifica Partners Inc. now owns 57,285 shares of the information services provider’s stock worth $9,578,000 after buying an additional 1,513 shares during the last quarter. Bath Savings Trust Co boosted its position in Alphabet by 2.8% in the third quarter. Bath Savings Trust Co now owns 13,050 shares of the information services provider’s stock worth $2,182,000 after purchasing an additional 350 shares during the last quarter. Finally, Greenfield Savings Bank grew its stake in shares of Alphabet by 1.4% during the 3rd quarter. Greenfield Savings Bank now owns 25,001 shares of the information services provider’s stock valued at $4,180,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent research reports. UBS Group cut their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Finally, Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.11.

Alphabet Stock Down 2.5 %

Shares of GOOG opened at $164.39 on Tuesday. The business has a fifty day moving average of $163.53 and a 200 day moving average of $168.91. The company has a market cap of $2.03 trillion, a PE ratio of 25.21, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the company earned $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. 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 217,592 shares of company stock worth $35,922,911 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.