Alphabet Inc. (NASDAQ:GOOGL) is Bank of New Hampshire’s 8th Largest Position

Bank of New Hampshire cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,698 shares of the information services provider’s stock after selling 2,355 shares during the quarter. Alphabet accounts for about 2.0% of Bank of New Hampshire’s portfolio, making the stock its 8th largest holding. Bank of New Hampshire’s holdings in Alphabet were worth $7,531,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. RDA Financial Network raised its position in Alphabet by 4.1% during the 1st quarter. RDA Financial Network now owns 51,821 shares of the information services provider’s stock worth $8,014,000 after buying an additional 2,026 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Alphabet by 23.2% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 34,003 shares of the information services provider’s stock worth $5,258,000 after purchasing an additional 6,392 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Alphabet by 11.6% during the 1st quarter. Revolve Wealth Partners LLC now owns 16,663 shares of the information services provider’s stock worth $2,577,000 after purchasing an additional 1,733 shares during the period. Charter Oak Capital Management LLC grew its stake in shares of Alphabet by 11.5% during the 1st quarter. Charter Oak Capital Management LLC now owns 4,395 shares of the information services provider’s stock worth $680,000 after purchasing an additional 452 shares during the period. Finally, Whitaker Myers Wealth Managers LTD. grew its stake in shares of Alphabet by 6.2% during the 1st quarter. Whitaker Myers Wealth Managers LTD. now owns 2,418 shares of the information services provider’s stock worth $374,000 after purchasing an additional 141 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GOOGL shares. Morgan Stanley dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Citigroup raised their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% 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 quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 3.3%

NASDAQ GOOGL opened at $173.68 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $160.14 and its 200-day simple moving average is $174.38. The firm has a market cap of $2.11 trillion, a PE ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping 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 analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

About Alphabet

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.