Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Penobscot Wealth Management

Penobscot Wealth Management raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 23.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,599 shares of the information services provider’s stock after buying an additional 302 shares during the quarter. Penobscot Wealth Management’s holdings in Alphabet were worth $303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pettinga Financial Advisors LLC raised its stake in Alphabet by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after purchasing an additional 201 shares during the period. Impax Asset Management Group plc raised its position in shares of Alphabet by 6.8% in the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after buying an additional 46,677 shares during the period. Principal Financial Group Inc. boosted its holdings in Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after acquiring an additional 337,031 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its position in Alphabet by 26.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider’s stock valued at $1,377,000 after acquiring an additional 1,749 shares during the period. Finally, Round Rock Advisors LLC increased its stake in Alphabet by 7.5% during the third quarter. Round Rock Advisors LLC now owns 9,324 shares of the information services provider’s stock worth $1,546,000 after acquiring an additional 649 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. KeyCorp decreased their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Price Performance

Shares of GOOGL opened at $167.68 on Tuesday. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $182.10 and a 200 day moving average price of $176.73. The company has a market cap of $2.04 trillion, a P/E ratio of 20.83, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by corporate insiders.

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.