Grove Bank & Trust increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 63.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 756 shares of the information services provider’s stock after purchasing an additional 294 shares during the quarter. Grove Bank & Trust’s holdings in Alphabet were worth $725,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Capital Investment Advisory Services LLC lifted its holdings in Alphabet by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock valued at $230,000 after purchasing an additional 1 shares in the last quarter. Capital Advantage Inc. lifted its holdings in Alphabet by 0.4% in the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after purchasing an additional 1 shares in the last quarter. Foster & Motley Inc. lifted its holdings in Alphabet by 0.8% in the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after purchasing an additional 2 shares in the last quarter. Edge Wealth Management LLC lifted its holdings in Alphabet by 0.9% in the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 3 shares in the last quarter. Finally, Financial Consulate Inc. lifted its holdings in Alphabet by 1.2% in the 2nd quarter. Financial Consulate Inc. now owns 262 shares of the information services provider’s stock valued at $238,000 after purchasing an additional 3 shares in the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the transaction, the chief executive officer now directly owns 949 shares in the company, valued at $968,634.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L John Doerr sold 12,236 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the transaction, the director now owns 3,485 shares in the company, valued at $3,560,171.45. The disclosure for this sale can be found here. Insiders have sold 37,981 shares of company stock valued at $39,624,577 in the last three months. Corporate insiders own 13.92% of the company’s stock.

A number of research firms have issued reports on GOOG. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Stifel Nicolaus restated a “neutral” rating on shares of Alphabet in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,061.93.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,037.78 on Monday. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market cap of $721,031.94, a P/E ratio of 32.42 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same period in the previous year, the business posted $9.36 EPS. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year.

Alphabet declared that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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