First Bancorp Inc ME Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

First Bancorp Inc ME lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,219 shares of the information services provider’s stock after selling 118 shares during the quarter. Alphabet accounts for approximately 1.1% of First Bancorp Inc ME’s portfolio, making the stock its 19th biggest position. First Bancorp Inc ME’s holdings in Alphabet were worth $1,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. M. Kraus & Co increased its holdings in shares of Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares during the period. Wynn Capital LLC boosted its stake in shares of Alphabet by 3.9% in the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after buying an additional 67 shares in the last quarter. Aire Advisors LLC boosted its stake in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares in the last quarter. Defined Wealth Management LLC boosted its stake in shares of Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after buying an additional 71 shares in the last quarter. Finally, WealthCare Investment Partners LLC boosted its stake in shares of Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after buying an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Rosenblatt Securities lifted their price target on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets restated an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Oppenheimer lifted their price target on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reiterated an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Roth Mkm boosted their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $193.69.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock worth $24,534,393 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $183.88 on Thursday. The firm has a market capitalization of $2.27 trillion, a PE ratio of 28.20, a P/E/G ratio of 1.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business has a 50-day moving average of $171.13 and a two-hundred day moving average of $153.36. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $184.51.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the firm posted $1.17 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is presently 12.27%.

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.