Alphabet Inc. $GOOG Shares Sold by Ledyard National Bank

Ledyard National Bank decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,087 shares of the information services provider’s stock after selling 1,045 shares during the quarter. Ledyard National Bank’s holdings in Alphabet were worth $6,401,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Brighton Jones LLC boosted its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Alphabet by 6.2% during the 1st quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock worth $1,587,000 after purchasing an additional 594 shares during the last quarter. Smart Money Group LLC boosted its stake in Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock worth $342,000 after purchasing an additional 432 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in Alphabet by 0.6% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 23,656 shares of the information services provider’s stock worth $3,696,000 after purchasing an additional 137 shares during the last quarter. Finally, Davidson Trust Co. boosted its stake in Alphabet by 24.3% during the 1st quarter. Davidson Trust Co. now owns 12,063 shares of the information services provider’s stock worth $1,885,000 after purchasing an additional 2,356 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.0%

GOOG opened at $281.82 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The stock has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a P/E/G ratio of 1.86 and a beta of 1.00. The business’s 50 day moving average price is $244.59 and its 200 day moving average price is $200.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOG. Piper Sandler lifted their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank set a $336.00 target price on Alphabet and gave the stock a “sector outperform” rating in a report on Thursday. Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday. KeyCorp reissued an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday. Finally, TD Cowen boosted their price objective on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $324.81.

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.