Kennebec Savings Bank Has $2.30 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Kennebec Savings Bank raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,855 shares of the information services provider’s stock after purchasing an additional 478 shares during the period. Alphabet accounts for about 2.4% of Kennebec Savings Bank’s holdings, making the stock its 5th largest holding. Kennebec Savings Bank’s holdings in Alphabet were worth $2,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Compass Planning Associates Inc bought a new position in Alphabet during the 4th quarter valued at approximately $30,000. PayPay Securities Corp raised its position in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Alphabet during the 4th quarter valued at approximately $49,000. Navigoe LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet in the 4th quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Stifel Nicolaus decreased their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Citigroup increased their target price on Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Performance

Shares of GOOGL opened at $173.68 on Monday. The business’s fifty day simple moving average is $160.14 and its two-hundred day simple moving average is $174.38. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock worth $32,036,638 in the last ninety days. Insiders own 11.64% of the company’s stock.

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.