Plimoth Trust Co. LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Plimoth Trust Co. LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,265 shares of the information services provider’s stock after selling 1,141 shares during the period. Alphabet comprises about 2.8% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 5th biggest holding. Plimoth Trust Co. LLC’s holdings in Alphabet were worth $11,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. River Street Advisors LLC boosted its holdings in Alphabet by 9.0% in the first quarter. River Street Advisors LLC now owns 14,652 shares of the information services provider’s stock worth $2,211,000 after purchasing an additional 1,208 shares during the last quarter. Richardson Capital Management LLC lifted its holdings in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares during the period. Cornerstone Wealth Group LLC boosted its stake in shares of Alphabet by 60.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 62,799 shares of the information services provider’s stock worth $9,478,000 after buying an additional 23,684 shares during the last quarter. Avalon Capital Management grew its holdings in shares of Alphabet by 10.0% in the first quarter. Avalon Capital Management now owns 193,631 shares of the information services provider’s stock worth $29,225,000 after acquiring an additional 17,540 shares during the period. Finally, Gradient Capital Advisors LLC increased its position in Alphabet by 1.4% during the first quarter. Gradient Capital Advisors LLC now owns 21,245 shares of the information services provider’s stock valued at $3,207,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,744 shares of company stock worth $35,878,764 over the last three months. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Guggenheim upped their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. DA Davidson began coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $171.11 on Friday. The firm has a fifty day simple moving average of $162.32 and a two-hundred day simple moving average of $168.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.11 trillion, a P/E ratio of 26.24, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52 week low of $122.68 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is presently 12.27%.

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.