Alphabet Inc. $GOOGL Stock Holdings Raised by Kennebec Savings Bank

Kennebec Savings Bank boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,797 shares of the information services provider’s stock after purchasing an additional 942 shares during the quarter. Alphabet comprises about 2.7% of Kennebec Savings Bank’s investment portfolio, making the stock its 6th largest position. Kennebec Savings Bank’s holdings in Alphabet were worth $2,784,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Missouri Trust & Investment Co raised its stake in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC raised its stake in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Bfsg LLC increased its position in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the last quarter. Enzi Wealth increased its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the last quarter. Finally, Powers Advisory Group LLC increased its position in Alphabet by 1.8% during the second quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider’s stock valued at $628,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOGL shares. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. DA Davidson boosted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Wedbush boosted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Finally, Moffett Nathanson boosted their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $244.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.3%

NASDAQ:GOOGL opened at $241.53 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a 50-day moving average of $225.37 and a 200 day moving average of $188.04. The firm has a market cap of $2.92 trillion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.