Penobscot Wealth Management Has $215,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Penobscot Wealth Management boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,297 shares of the information services provider’s stock after purchasing an additional 71 shares during the quarter. Penobscot Wealth Management’s holdings in Alphabet were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. Finally, Quarry LP acquired a new position in Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

GOOGL opened at $178.88 on Thursday. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.29 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $164.37 and a 200-day moving average price of $169.98. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,495 shares of company stock valued at $34,586,641. Company insiders own 11.55% of the company’s stock.

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.