Bank of New Hampshire Sells 653 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bank of New Hampshire cut its position in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,975 shares of the information services provider’s stock after selling 653 shares during the quarter. Bank of New Hampshire’s holdings in Alphabet were worth $2,340,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management bought a new stake in Alphabet in the 4th quarter valued at $27,000. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOG shares. Scotiabank cut their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup restated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Trading Up 3.0%

Shares of GOOG stock opened at $174.92 on Friday. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average of $161.88 and a 200-day moving average of $176.05. 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 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business 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 a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.36%.

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.