Ledyard National Bank Sells 547 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ledyard National Bank lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,239 shares of the information services provider’s stock after selling 547 shares during the period. Alphabet accounts for approximately 1.6% of Ledyard National Bank’s holdings, making the stock its 13th biggest position. Ledyard National Bank’s holdings in Alphabet were worth $15,679,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. RWQ Financial Management Services Inc. boosted its stake in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Robbins Farley boosted its stake in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC boosted its stake in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Colton Groome Financial Advisors LLC boosted its stake in Alphabet by 3.8% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after purchasing an additional 100 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.9 %

NASDAQ GOOGL opened at $171.25 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.12 trillion, a P/E ratio of 26.27, a P/E/G ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a one year low of $105.16 and a one year high of $174.71. The stock has a 50 day moving average price of $151.40 and a 200-day moving average price of $142.83.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the company earned $1.17 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock worth $37,091,240 over the last three months. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GOOGL shares. Redburn Atlantic upped their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wolfe Research upped their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Royal Bank of Canada upped their target price on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Oppenheimer upped their target price on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

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.