Bangor Savings Bank Sells 497 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bangor Savings Bank lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,980 shares of the information services provider’s stock after selling 497 shares during the period. Alphabet makes up about 0.4% of Bangor Savings Bank’s investment portfolio, making the stock its 29th largest position. Bangor Savings Bank’s holdings in Alphabet were worth $3,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Weiss Asset Management LP bought a new position in shares of Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $33,000. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted 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 in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was 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 $350,361,837.80. The trade was a 1.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 155,887 shares of company stock valued at $27,996,356. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 2.5 %

Alphabet stock opened at $197.96 on Tuesday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.34 and a beta of 0.99. The company’s 50-day moving average price is $182.36 and its two-hundred day moving average price is $174.11. 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 (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.