First Bancorp Inc ME Sells 172 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Bancorp Inc ME cut its position in Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,263 shares of the information services provider’s stock after selling 172 shares during the quarter. First Bancorp Inc ME’s holdings in Alphabet were worth $1,193,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. HWG Holdings LP acquired a new stake in shares of Alphabet during the 2nd quarter worth $40,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $193.64 on Tuesday. The stock has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The company’s fifty day moving average is $187.95 and its 200 day moving average is $175.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results 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. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Company 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.