Alphabet Inc (NASDAQ:GOOG) Shares Bought by Essex Savings Bank

Essex Savings Bank lifted its position in Alphabet Inc (NASDAQ:GOOG) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,076 shares of the information services provider’s stock after acquiring an additional 36 shares during the period. Alphabet accounts for 0.9% of Essex Savings Bank’s holdings, making the stock its 25th largest position. Essex Savings Bank’s holdings in Alphabet were worth $1,521,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Convergence Investment Partners LLC boosted its stake in shares of Alphabet by 7.3% in the second quarter. Convergence Investment Partners LLC now owns 1,937 shares of the information services provider’s stock worth $2,738,000 after acquiring an additional 131 shares during the last quarter. Community Bank N.A. boosted its stake in shares of Alphabet by 147.2% in the second quarter. Community Bank N.A. now owns 534 shares of the information services provider’s stock worth $755,000 after acquiring an additional 318 shares during the last quarter. Brendel Financial Advisors LLC boosted its stake in shares of Alphabet by 6.9% in the second quarter. Brendel Financial Advisors LLC now owns 1,538 shares of the information services provider’s stock worth $2,174,000 after acquiring an additional 99 shares during the last quarter. Single Point Partners LLC boosted its stake in shares of Alphabet by 2.0% in the second quarter. Single Point Partners LLC now owns 852 shares of the information services provider’s stock worth $1,204,000 after acquiring an additional 17 shares during the last quarter. Finally, Sage Rhino Capital LLC boosted its stake in shares of Alphabet by 54.9% in the second quarter. Sage Rhino Capital LLC now owns 787 shares of the information services provider’s stock worth $1,113,000 after acquiring an additional 279 shares during the last quarter. 32.91% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the transaction, the director now directly owns 592 shares of the company’s stock, valued at approximately $807,257.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 32 shares of the business’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 directly owns 1,119 shares of the company’s stock, valued at $1,587,178.41. 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 quarter. Company insiders own 12.99% of the company’s stock.

A number of equities analysts recently commented on the company. Deutsche Bank lifted their price objective on Alphabet from $1,700.00 to $1,975.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Friday. Pivotal Research lifted their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer lifted their price objective on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,671.00.

Shares of GOOG stock traded down $48.49 on Friday, hitting $1,482.96. The stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. 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. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,586.99. The company’s 50 day moving average price is $1,474.19 and its 200-day moving average price is $1,377.20.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The firm 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, equities analysts forecast that Alphabet Inc will post 42.07 EPS for the current year.

Alphabet Profile

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.

See Also: What are the benefits of a balanced fund?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.