Bangor Savings Bank Purchases 8,025 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bangor Savings Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 36.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,898 shares of the information services provider’s stock after buying an additional 8,025 shares during the period. Alphabet comprises 0.5% of Bangor Savings Bank’s investment portfolio, making the stock its 25th largest position. Bangor Savings Bank’s holdings in Alphabet were worth $4,552,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOG. Fuller & Thaler Asset Management Inc. boosted its position in shares of Alphabet by 5.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 17,841 shares of the information services provider’s stock valued at $2,352,000 after buying an additional 914 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Alphabet by 12.5% during the 3rd quarter. Natixis Advisors L.P. now owns 2,540,135 shares of the information services provider’s stock valued at $334,917,000 after purchasing an additional 281,463 shares during the period. GSB Wealth Management LLC lifted its stake in shares of Alphabet by 1.1% in the 3rd quarter. GSB Wealth Management LLC now owns 16,195 shares of the information services provider’s stock worth $2,135,000 after purchasing an additional 180 shares during the period. Providence Capital Advisors LLC boosted its holdings in shares of Alphabet by 0.4% in the third quarter. Providence Capital Advisors LLC now owns 56,064 shares of the information services provider’s stock worth $7,392,000 after buying an additional 226 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Alphabet by 9.0% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 20,696 shares of the information services provider’s stock valued at $2,729,000 after buying an additional 1,707 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $165.67.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,958 shares of company stock valued at $22,383,553. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $180.26 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $182.51. The business’s 50-day moving average is $171.61 and its 200 day moving average is $154.11. The company has a market capitalization of $2.23 trillion, a P/E ratio of 27.65, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.