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

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

Several other institutional investors also recently added to or reduced their stakes in the company. Affiance Financial LLC raised its position in shares of Alphabet by 6.2% during the third quarter. Affiance Financial LLC now owns 632 shares of the information services provider’s stock valued at $770,000 after buying an additional 37 shares during the last quarter. First PREMIER Bank raised its position 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 buying an additional 16 shares during the last quarter. Cypress Capital Group raised its position 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 buying an additional 150 shares during the last quarter. Pacer Advisors Inc. raised its position 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 buying an additional 4,797 shares during the last quarter. Finally, Truewealth LLC raised its position 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 buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

In other news, VP Amie Thuener O’toole sold 55 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at $465,887.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 1,600 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the sale, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The disclosure for this sale can be found here. Insiders have sold 5,391 shares of company stock worth $6,502,992 in the last quarter. Company insiders own 12.99% of the company’s stock.

Several research firms have recently issued reports on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 3rd. UBS Group restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Credit Suisse Group boosted their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,378.93.

GOOG stock opened at $1,215.45 on Friday. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,289.27. The stock has a market capitalization of $842.79 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The firm’s fifty day simple moving average is $1,205.60 and its two-hundred day simple moving average is $1,171.71.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. During the same quarter in the previous year, the business posted $11.75 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc will post 51.66 EPS for the current year.

About Alphabet

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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