Alphabet Inc. (NASDAQ:GOOGL) Holdings Lifted by Penobscot Wealth Management

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

A number of other institutional investors have also recently bought and sold shares of the business. Pettinga Financial Advisors LLC increased its stake in Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after buying an additional 201 shares during the period. Impax Asset Management Group plc increased its stake in shares of Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after acquiring an additional 46,677 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Legacy Capital Wealth Partners LLC boosted 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 purchasing an additional 1,749 shares during the last quarter. Finally, Round Rock Advisors LLC boosted its position 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 valued at $1,546,000 after purchasing an additional 649 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 2.3 %

NASDAQ GOOGL opened at $167.68 on Tuesday. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $182.10 and its two-hundred day moving average is $176.73. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.34 and a beta of 1.02.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Wolfe Research raised their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Morgan Stanley decreased their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet 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.