Penobscot Investment Management Company Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,754 shares of the information services provider’s stock after acquiring an additional 3,466 shares during the period. Alphabet accounts for approximately 2.2% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 6th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $25,862,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Missouri Trust & Investment Co raised its holdings in shares of Alphabet by 0.3% in 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 buying an additional 55 shares during the last quarter. AM Investment Strategies LLC raised its holdings in shares of Alphabet by 0.9% in 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 buying an additional 57 shares during the last quarter. Bfsg LLC raised its holdings in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after buying an additional 59 shares during the last quarter. Financial Council LLC increased its stake in shares of Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the period. Finally, Enzi Wealth increased its stake in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s 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 in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,338 shares of company stock valued at $59,062,683. 11.64% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
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Alphabet Trading Down 2.1%
Shares of GOOGL opened at $236.57 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average is $226.31 and its two-hundred day moving average is $188.84. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.
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.
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