Ledyard National Bank Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Ledyard National Bank decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 49,616 shares of the information services provider’s stock after selling 2,145 shares during the period. Ledyard National Bank’s holdings in Alphabet were worth $6,992,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Veracity Capital LLC lifted its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky lifted its holdings in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the period. Washington Trust Bank lifted its holdings in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the period. CNB Bank lifted its holdings in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its holdings in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. Raymond James upped their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $165.67.

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 253,289 shares of company stock worth $36,724,534 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $164.64 on Wednesday. Alphabet Inc. has a 52 week low of $104.50 and a 52 week high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.05 trillion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. The stock’s 50-day moving average price is $150.09 and its 200-day moving average price is $143.16.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the firm earned $1.17 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 7.46 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

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.