Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Bangor Savings Bank

Bangor Savings Bank trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,627 shares of the information services provider’s stock after selling 964 shares during the quarter. Alphabet comprises 0.6% of Bangor Savings Bank’s investment portfolio, making the stock its 23rd biggest holding. Bangor Savings Bank’s holdings in Alphabet were worth $5,987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. LMR Partners LLP acquired a new position in Alphabet during the 3rd quarter worth approximately $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at $41,000. Quarry LP purchased a new stake in shares of Alphabet during the 2nd quarter worth $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet during the 3rd quarter worth $66,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock valued at $27,996,356 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $196.87 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.41 trillion, a PE ratio of 26.11, a P/E/G ratio of 1.35 and a beta of 0.98. The company’s fifty day simple moving average is $180.84 and its 200-day simple moving average is $172.60. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Tigress Financial raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. JMP Securities downgraded shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $220.00 price target for the company. in a research report on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $206.82.

Alphabet 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.