Bangor Savings Bank Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bangor Savings Bank reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,627 shares of the information services provider’s stock after selling 964 shares during the quarter. Alphabet comprises approximately 0.6% of Bangor Savings Bank’s investment portfolio, making the stock its 23rd biggest holding. Bangor Savings Bank’s holdings in Alphabet were worth $5,987,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. LMR Partners LLP purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Kings Path Partners LLC acquired a new position in Alphabet during the 2nd quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter worth $41,000. Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet during the third quarter valued at $66,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % 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. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $196.87 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $180.84 and a 200-day simple moving average of $172.60. The stock has a market cap of $2.41 trillion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.82.

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.