Bath Savings Trust Co Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Bath Savings Trust Co increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,538 shares of the information services provider’s stock after buying an additional 1,256 shares during the period. Bath Savings Trust Co’s holdings in Alphabet were worth $2,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Webster Bank N. A. grew its stake in shares of Alphabet by 6.3% in the 1st quarter. Webster Bank N. A. now owns 26,734 shares of the information services provider’s stock worth $4,177,000 after buying an additional 1,596 shares during the last quarter. Revisor Wealth Management LLC lifted its position in Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after acquiring an additional 1,899 shares in the last quarter. Agate Pass Investment Management LLC lifted its position in Alphabet by 41.5% in the 1st quarter. Agate Pass Investment Management LLC now owns 11,556 shares of the information services provider’s stock valued at $1,805,000 after acquiring an additional 3,392 shares in the last quarter. Baring Financial LLC lifted its position in Alphabet by 9.9% in the 1st quarter. Baring Financial LLC now owns 1,888 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 170 shares in the last quarter. Finally, Legacy Private Trust Co. lifted its position in Alphabet by 3.8% in the 1st quarter. Legacy Private Trust Co. now owns 9,896 shares of the information services provider’s stock valued at $1,546,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $172.96 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock’s fifty day moving average is $160.92 and its 200 day moving average is $176.39. The stock has a market cap of $2.10 trillion, a P/E ratio of 21.49, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the firm earned $1.89 EPS. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. UBS Group lowered their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Westpark Capital reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $203.94.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were 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 in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,533 shares of company stock valued at $26,772,774. 12.99% of the stock is owned by company insiders.

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.