First County Bank CT Sells 694 Shares of Alphabet Inc. (NASDAQ:GOOG)

First County Bank CT lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,786 shares of the information services provider’s stock after selling 694 shares during the period. First County Bank CT’s holdings in Alphabet were worth $911,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Weiss Asset Management LP acquired a new position in Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth $33,000. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.5 %

Shares of GOOG stock traded down $1.08 on Tuesday, reaching $196.88. 10,909,292 shares of the company were exchanged, compared to its average volume of 15,097,542. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.34 and a beta of 0.99. The company has a 50-day moving average of $182.36 and a 200-day moving average of $174.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares in the company, valued at $4,342,143.80. This represents a 5.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,887 shares of company stock valued at $27,996,356. 12.99% of the stock is owned by corporate 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.