14,285 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Kennebec Savings Bank

Kennebec Savings Bank bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,285 shares of the information services provider’s stock, valued at approximately $2,369,000. Alphabet makes up approximately 2.3% of Kennebec Savings Bank’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Alphabet during the second quarter worth $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the second quarter worth $55,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of GOOGL opened at $164.76 on Monday. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The company has a market capitalization of $2.02 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s 50 day simple moving average is $167.64 and its 200 day simple moving average is $170.36.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company posted $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOGL shares. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Bank of America boosted their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.