Ipswich Investment Management Co. Inc. Sells 250 Shares of Alphabet Inc. $GOOG

Ipswich Investment Management Co. Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,502 shares of the information services provider’s stock after selling 250 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Alphabet were worth $2,750,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GOOG. Kingstone Capital Partners Texas LLC lifted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new stake in shares of Alphabet in the first quarter worth $2,622,943,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Alphabet during the 1st quarter worth about $369,713,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GOOG shares. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.35.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $247.18 on Monday. The business has a fifty day simple moving average of $216.61 and a two-hundred day simple moving average of $184.53. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.67 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:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,866 shares of company stock valued at $52,363,610. 12.99% of the stock is currently owned by insiders.

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.