Alphabet Inc. $GOOGL Shares Purchased by Camden National Bank

Camden National Bank boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 33.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,441 shares of the information services provider’s stock after buying an additional 16,031 shares during the quarter. Alphabet accounts for approximately 1.6% of Camden National Bank’s portfolio, making the stock its 24th largest holding. Camden National Bank’s holdings in Alphabet were worth $11,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Bridgeway Capital Management LLC boosted its stake in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its position in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. Moment Partners LLC boosted its position in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares during the period. Welch Group LLC grew its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management raised its position in shares of Alphabet by 4.8% in the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after purchasing an additional 390 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares in the company, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,628 shares of company stock worth $50,942,622. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, October 30th. Jefferies Financial Group upped their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Needham & Company LLC raised their price target on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Daiwa Capital Markets boosted their price objective on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, BNP Paribas initiated coverage on Alphabet in a research note on Monday, November 24th. They set an “outperform” rating and a $355.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.06.

Alphabet Trading Up 1.2%

Shares of GOOGL opened at $319.63 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 1.82 and a beta of 1.07. The stock’s 50-day moving average price is $273.22 and its 200 day moving average price is $222.36.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

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.