Penobscot Investment Management Company Inc. Purchases 8,572 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Penobscot Investment Management Company Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 120,740 shares of the information services provider’s stock after purchasing an additional 8,572 shares during the quarter. Alphabet accounts for 2.0% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 7th biggest position. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $16,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. lifted its stake in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the period. Robbins Farley raised its holdings in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC raised its holdings in Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.8% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after purchasing an additional 100 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. KeyCorp boosted their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Oppenheimer upped their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Raymond James raised their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Loop Capital boosted their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Needham & Company LLC raised their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Price Performance

Shares of GOOGL opened at $171.25 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.12 trillion, a PE ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. The firm’s 50 day moving average price is $151.40 and its 200 day moving average price is $142.83. Alphabet Inc. has a twelve month low of $105.16 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the firm earned $1.17 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

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.