Penobscot Investment Management Company Inc. Sells 12 Shares of Alphabet Inc. (GOOG)

Penobscot Investment Management Company Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,022 shares of the information services provider’s stock after selling 12 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $929,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Harbour Capital Advisors LLC raised its holdings in shares of Alphabet by 87,001.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after acquiring an additional 1,991,465 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of Alphabet by 37.1% during the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock valued at $1,019,026,000 after acquiring an additional 324,596 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of Alphabet by 35.8% during the first quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock valued at $350,437,000 after acquiring an additional 111,292 shares in the last quarter. Arthur M. Cohen & Associates LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $4,914,000. Finally, Karp Capital Management Corp bought a new position in shares of Alphabet during the first quarter valued at approximately $82,519,000. Hedge funds and other institutional investors own 34.50% of the company’s stock.

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In other news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the transaction, the director now owns 1,805 shares in the company, valued at approximately $1,836,064.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $926.79, for a total value of $3,707,160.00. Following the completion of the transaction, the chief executive officer now owns 1,389 shares of the company’s stock, valued at approximately $1,287,311.31. The disclosure for this sale can be found here. Insiders have sold a total of 41,714 shares of company stock valued at $39,425,705 in the last 90 days. 13.92% of the stock is currently owned by company insiders.

Alphabet Inc. (NASDAQ:GOOG) opened at $1,028.07 on Friday. The firm has a market capitalization of $714,304.06, a P/E ratio of 34.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $1,048.39.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.06 EPS.

Several equities research analysts recently weighed in on GOOG shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research note on Thursday, July 27th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,045.44.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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