Alphabet Inc. $GOOGL Position Lifted by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,588 shares of the information services provider’s stock after purchasing an additional 997 shares during the quarter. Alphabet makes up about 2.8% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 6th biggest position. Plimoth Trust Co. LLC’s holdings in Alphabet were worth $11,559,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. UBS Group increased their target price on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Citigroup increased their target price on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Robert W. Baird increased their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Canaccord Genuity Group increased their target price on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, Bank of America increased their target price on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.40.

Alphabet Trading Up 3.2%

NASDAQ:GOOGL opened at $244.15 on Tuesday. The business’s 50-day moving average is $227.30 and its two-hundred day moving average is $189.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The firm has a market capitalization of $2.95 trillion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

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.