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

Bangor Savings Bank boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,591 shares of the information services provider’s stock after purchasing an additional 388 shares during the period. Alphabet comprises approximately 0.5% of Bangor Savings Bank’s portfolio, making the stock its 23rd largest position. Bangor Savings Bank’s holdings in Alphabet were worth $5,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Capital Research Global Investors boosted its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Wulff Hansen & CO. grew its position in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. increased its stake in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.3 %

NASDAQ GOOGL opened at $165.46 on Wednesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The firm has a 50-day moving average price of $161.63 and a 200 day moving average price of $168.07. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.38, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the firm earned $1.44 EPS. Equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the sale, the director now owns 26,324 shares in the company, valued at $4,342,143.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,926 shares of company stock valued at $32,251,590. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Roth Mkm reiterated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Monday, September 16th. Finally, Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.13.

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.