Cape ANN Savings Bank Has $547,000 Position in Alphabet Inc. (GOOG)
Cape ANN Savings Bank continued to hold its stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602 shares of the information services provider’s stock at the end of the second quarter. Cape ANN Savings Bank’s holdings in Alphabet were worth $547,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of GOOG. Cambridge Advisors Inc. boosted its stake in Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares during the last quarter. Howland Capital Management LLC boosted its stake in shares of Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Alphabet by 0.6% in the second quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after buying an additional 3 shares during the period. Lederer & Associates Investment Counsel CA boosted its stake in shares of Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock valued at $905,000 after buying an additional 4 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in shares of Alphabet by 1.4% in the first quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock valued at $247,000 after buying an additional 4 shares during the period. Institutional investors own 34.57% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.94% during midday trading on Wednesday, reaching $930.92. 508,312 shares of the company were exchanged. The company has a market capitalization of $645.01 billion, a PE ratio of 33.74 and a beta of 0.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The firm’s 50 day moving average is $934.57 and its 200-day moving average is $891.34.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the business earned $8.42 earnings per share. Alphabet’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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Several equities research analysts have commented on the stock. SunTrust Banks, Inc. assumed coverage on shares of Alphabet in a research report on Wednesday. They issued a “buy” rating and a $1,100.00 price target on the stock. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a research report on Thursday, August 10th. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, August 9th. Finally, BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $1,031.10.
In related news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $948.90, for a total value of $1,897,800.00. Following the completion of the transaction, the senior vice president now directly owns 2,800 shares in the company, valued at approximately $2,656,920. The disclosure for this sale can be found here. Insiders sold a total of 43,169 shares of company stock worth $40,499,322 in the last three months. 13.92% of the stock is currently owned by company insiders.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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