Cape ANN Savings Bank Has $3.84 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Cape ANN Savings Bank reduced its stake in Alphabet Inc. by 15.9%, owning 24,803 shares worth approximately $3.8 million, making it the bank's 9th largest position in its portfolio.
• Institutional investors now hold 40.03% of Alphabet's stock, with several firms making significant changes to their positions during the first quarter.
• Alphabet announced a quarterly dividend of $0.21 per share, with the payment date set for September 15th, representing an annualized yield of 0.4%.

Cape ANN Savings Bank lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,803 shares of the information services provider's stock after selling 4,675 shares during the period. Alphabet comprises 2.4% of Cape ANN Savings Bank's investment portfolio, making the stock its 9th largest holding. Cape ANN Savings Bank's holdings in Alphabet were worth $3,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wealth Preservation Advisors LLC acquired a new stake in Alphabet during the 1st quarter worth about $1,381,000. B. Metzler seel. Sohn & Co. AG raised its holdings in Alphabet by 4.2% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,721,620 shares of the information services provider's stock worth $420,871,000 after buying an additional 109,753 shares during the period. RB Capital Management LLC raised its holdings in Alphabet by 1.3% during the 1st quarter. RB Capital Management LLC now owns 33,391 shares of the information services provider's stock worth $5,164,000 after buying an additional 427 shares during the period. CreativeOne Wealth LLC raised its holdings in Alphabet by 19.1% during the 1st quarter. CreativeOne Wealth LLC now owns 136,575 shares of the information services provider's stock worth $21,120,000 after buying an additional 21,888 shares during the period. Finally, Entrewealth LLC raised its holdings in Alphabet by 62.3% during the 1st quarter. Entrewealth LLC now owns 2,545 shares of the information services provider's stock worth $394,000 after buying an additional 977 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent analyst reports. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Barclays upped their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wedbush upped their target price on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus upped their target price on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Stock Up 0.6%

NASDAQ:GOOGL traded up $1.27 during mid-day trading on Monday, reaching $212.91. The stock had a trading volume of 39,702,089 shares, compared to its average volume of 29,138,272. The business's 50 day moving average is $190.44 and its 200 day moving average is $173.96. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $214.65. The stock has a market cap of $2.57 trillion, a P/E ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock worth $47,225,230. Corporate insiders own 11.55% of the company's stock.

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.