Camden National Bank Sells 87 Shares of Alphabet Inc. (NASDAQ:GOOG)

Camden National Bank cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,140 shares of the information services provider’s stock after selling 87 shares during the period. Camden National Bank’s holdings in Alphabet were worth $525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter valued at approximately $44,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % 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 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOG. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Trading Down 1.6 %

Shares of GOOG stock opened at $166.57 on Friday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 22.09, a PEG ratio of 1.18 and a beta of 1.04. The stock’s fifty day moving average is $169.10 and its two-hundred day moving average is $171.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.