Grove Bank & Trust Has $5.96 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Grove Bank & Trust lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,277 shares of the information services provider’s stock after buying an additional 3,029 shares during the period. Alphabet makes up about 1.1% of Grove Bank & Trust’s holdings, making the stock its 19th largest holding. Grove Bank & Trust’s holdings in Alphabet were worth $5,958,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after buying an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its holdings in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the period. West Michigan Advisors LLC raised its holdings in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the period. Somerville Kurt F raised its holdings in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC raised its holdings in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.2 %

Alphabet stock opened at $156.00 on Wednesday. The company’s 50-day moving average price is $146.95 and its two-hundred day moving average price is $141.51. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOOG shares. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $159.86.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock worth $32,835,757 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.