Alphabet Inc. $GOOGL Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,221 shares of the information services provider’s stock after selling 3,031 shares during the quarter. Alphabet comprises about 3.4% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 5th biggest position. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $48,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Wealth Advisors LLC increased its position in Alphabet by 6.0% in the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after buying an additional 27 shares in the last quarter. Rockbridge Investment Management LCC grew its position in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock valued at $1,570,000 after purchasing an additional 27 shares during the period. Ruggaard & Associates LLC raised its holdings in Alphabet by 0.9% during the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after buying an additional 27 shares during the last quarter. Cadia Private Client LLC lifted its stake in shares of Alphabet by 1.1% in the first quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock valued at $744,000 after buying an additional 28 shares in the last quarter. Finally, Evansbrook LLC grew its holdings in shares of Alphabet by 0.3% during the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock valued at $2,738,000 after buying an additional 28 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 83 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the transaction, the director owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 247 shares of company stock worth $79,238 in the last three months. 11.61% of the stock is owned by company insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year in the latest quarter, and its reported backlog was about $561 billion, highlighting strong enterprise demand. Read More.
• Positive Sentiment: Alphabet is in preliminary discussions related to the U.S. “Golden Dome” defense initiative. A contract could create a new, recurring revenue stream and help monetize its infrastructure investments, though no deal has been confirmed. Read More.
• Neutral Sentiment: Google plans to make its AI tools opt-in for K-12 students, responding to concerns from educators and policymakers. Reports that restricting AI could also limit Search have drawn political criticism, creating reputational risk while the company adjusts its school policies. Read More.
• Negative Sentiment: Recent earnings concerns continue to weigh on the outlook: Alphabet missed quarterly EPS expectations, Search growth slowed, and AI-generated results may produce less advertising revenue than traditional Search. ChatGPT’s search volume is also reported at roughly 20% of Google’s, underscoring competition for users. Read More.
• Negative Sentiment: Heavy AI infrastructure spending pushed free cash flow negative, and management expects capital expenditures to rise further. That raises questions about when the investment will generate sufficient returns and may help explain continued pressure on the shares after earnings. Read More.
• Negative Sentiment: Several law firms publicized an existing securities class action concerning alleged statements about Gemini 3.5 Pro training results. The repeated notices do not indicate separate new cases, but the litigation could add legal and reputational risk. Read More.

Alphabet Stock Performance

NASDAQ GOOGL opened at $280.03 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. The company has a market capitalization of $3.42 trillion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. Alphabet Inc. has a 52-week low of $270.70 and a 52-week high of $408.61. The company has a 50-day simple moving average of $336.39 and a 200 day simple moving average of $339.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The company had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.96 billion. On average, research analysts predict that Alphabet Inc. will post 19.86 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 4.59%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOGL. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Moffett Nathanson set a $345.00 price target on Alphabet in a report on Thursday, October 29th. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a report on Thursday, July 23rd. Yorkville Ives assumed coverage on shares of Alphabet in a research report on Monday, October 5th. They set an “outperform” rating and a $400.00 price target on the stock. Finally, Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $412.51.

About Alphabet

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.