Alphabet Inc. $GOOG Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the second quarter, Holdings Channel reports. The fund owned 6,058 shares of the information services provider’s stock after selling 131 shares during the period. Kennebec Savings Bank’s holdings in Alphabet were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Robbins Farley lifted its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the period. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday, September 29th. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $246.45 on Friday. The company has a market cap of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The business has a fifty day simple moving average of $221.89 and a 200-day simple moving average of $187.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

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.