Bangor Savings Bank Has $4 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Bangor Savings Bank decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,980 shares of the information services provider’s stock after selling 497 shares during the quarter. Alphabet accounts for approximately 0.4% of Bangor Savings Bank’s holdings, making the stock its 29th biggest holding. Bangor Savings Bank’s holdings in Alphabet were worth $3,995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sunburst Financial Group LLC lifted its stake in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the period. Johnson Financial Group LLC raised its holdings in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after buying an additional 60 shares in the last quarter. Phillips Financial Management LLC lifted its position in shares of Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after buying an additional 61 shares during the period. Goodman Advisory Group LLC boosted its stake in Alphabet by 2.3% in the 3rd quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after buying an additional 61 shares in the last quarter. Finally, Hutchinson Capital Management CA grew its position in Alphabet by 1.9% in the second quarter. Hutchinson Capital Management CA now owns 3,492 shares of the information services provider’s stock valued at $641,000 after acquiring an additional 64 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $197.96 on Tuesday. The company has a market cap of $2.42 trillion, a PE ratio of 26.25, a PEG ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The company’s 50-day moving average is $182.36 and its two-hundred day moving average is $174.11.

Alphabet (NASDAQ:GOOG) last announced 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,887 shares of company stock valued at $27,996,356. 12.99% of the stock is currently owned by company insiders.

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.