Ledyard National Bank Sells 2,145 Shares of Alphabet Inc. (NASDAQ:GOOG)

Ledyard National Bank decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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.

Several other large investors have also recently added to or reduced their stakes in the company. Tandem Wealth Advisors LLC bought a new position in shares of Alphabet in the third quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the fourth quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new stake in Alphabet in the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. acquired a new stake in Alphabet in the third quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. 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. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 1.9 %

GOOG stock opened at $164.64 on Wednesday. The stock’s fifty day simple moving average is $150.09 and its two-hundred day simple moving average is $143.16. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $104.50 and a 1-year high of $176.42. The stock has a market cap of $2.05 trillion, a P/E ratio of 25.25, a P/E/G ratio of 1.31 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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 quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 7.46 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

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

Alphabet Company 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.