Bangor Savings Bank Buys 527 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bangor Savings Bank grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,477 shares of the information services provider’s stock after acquiring an additional 527 shares during the period. Bangor Savings Bank’s holdings in Alphabet were worth $3,592,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Park Avenue Securities LLC grew its position in shares of Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC increased its position in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after purchasing an additional 107 shares during the period. Oak Ridge Investments LLC raised its holdings in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares during the period. Finally, Alliance Wealth Management Group boosted its stake in shares of Alphabet by 93.6% during the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after purchasing an additional 1,890 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock worth $35,922,911 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $164.39 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day moving average of $163.53 and a 200 day moving average of $168.91. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. UBS Group reduced their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

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.