Essex Savings Bank Buys 36 Shares of Alphabet Inc (NASDAQ:GOOG)

Essex Savings Bank lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,076 shares of the information services provider’s stock after acquiring an additional 36 shares during the quarter. Alphabet makes up approximately 0.9% of Essex Savings Bank’s holdings, making the stock its 25th biggest position. Essex Savings Bank’s holdings in Alphabet were worth $1,521,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Campbell Wealth Management bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Prestige Wealth Management Group LLC boosted its stake in Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the period. Cordasco Financial Network boosted its stake in Alphabet by 32.1% in the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after purchasing an additional 9 shares during the period. New England Investment & Retirement Group Inc. bought a new position in Alphabet in the 1st quarter worth approximately $44,000. Finally, Paragon Capital Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $47,000. Institutional investors own 32.91% of the company’s stock.

Several research analysts have weighed in on GOOG shares. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research note on Friday. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Oppenheimer upped their price target on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Pivotal Research upped their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,671.00.

NASDAQ:GOOG traded down $48.49 during midday trading on Friday, hitting $1,482.96. 3,429,036 shares of the company traded hands, compared to its average volume of 1,408,813. The firm’s fifty day moving average is $1,474.19 and its 200-day moving average is $1,377.20. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,586.99. The firm has a market capitalization of $1,012.30 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.34 and a beta of 1.05. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. On average, research analysts expect that Alphabet Inc will post 42.07 EPS for the current fiscal year.

In other Alphabet news, Director Ann Mather sold 32 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total value of $45,388.48. Following the transaction, the director now owns 1,119 shares of the company’s stock, valued at approximately $1,587,178.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the transaction, the director now directly owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. Insiders sold a total of 212 shares of company stock worth $303,047 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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