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

Bangor Savings Bank trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,833 shares of the information services provider’s stock after selling 794 shares during the period. Alphabet accounts for 0.5% of Bangor Savings Bank’s portfolio, making the stock its 24th biggest position. Bangor Savings Bank’s holdings in Alphabet were worth $4,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Rockbridge Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC grew its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. grew its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd grew its position in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC grew its position in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL opened at $173.68 on Monday. The company has a 50 day simple moving average of $160.14 and a 200-day simple moving average of $174.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the firm earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last three months. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GOOGL shares. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Bank of America upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Truist Financial decreased their target price on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company increased their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Finally, Mizuho decreased their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.