Rockland Trust Co. Buys 392 Shares of Alphabet Inc (NASDAQ:GOOG)

Rockland Trust Co. increased its stake in Alphabet Inc (NASDAQ:GOOG) by 32.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,585 shares of the information services provider’s stock after purchasing an additional 392 shares during the period. Rockland Trust Co.’s holdings in Alphabet were worth $1,883,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Affiance Financial LLC raised its holdings in Alphabet by 6.2% in the 3rd quarter. Affiance Financial LLC now owns 632 shares of the information services provider’s stock valued at $770,000 after acquiring an additional 37 shares during the period. First PREMIER Bank increased its holdings in shares of Alphabet by 44.4% during the third quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 16 shares in the last quarter. Cypress Capital Group increased its holdings in shares of Alphabet by 16.4% during the third quarter. Cypress Capital Group now owns 1,062 shares of the information services provider’s stock valued at $1,295,000 after acquiring an additional 150 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Alphabet by 9.8% during the third quarter. Pacer Advisors Inc. now owns 53,843 shares of the information services provider’s stock valued at $65,635,000 after acquiring an additional 4,797 shares in the last quarter. Finally, Truewealth LLC increased its holdings in shares of Alphabet by 4.7% during the third quarter. Truewealth LLC now owns 645 shares of the information services provider’s stock valued at $786,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

GOOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Monday, September 23rd. Bank of America restated a “buy” rating and set a $1,450.00 target price (up from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. UBS Group restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, Barclays restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,378.93.

In other news, Director John L. Hennessy sold 150 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $1,225.00, for a total value of $183,750.00. Following the transaction, the director now owns 276 shares of the company’s stock, valued at approximately $338,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 55 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $1,195.00, for a total transaction of $65,725.00. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $463,660. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,391 shares of company stock valued at $6,502,992. 12.99% of the stock is currently owned by insiders.

GOOG opened at $1,215.45 on Friday. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The company has a market cap of $842.79 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a fifty day moving average price of $1,205.60 and a two-hundred day moving average price of $1,171.71.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same period in the previous year, the firm posted $11.75 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc will post 51.66 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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