Piscataqua Savings Bank Has $4.39 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Piscataqua Savings Bank lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 28,376 shares of the information services provider’s stock after selling 5,865 shares during the period. Alphabet comprises approximately 3.9% of Piscataqua Savings Bank’s holdings, making the stock its 4th largest position. Piscataqua Savings Bank’s holdings in Alphabet were worth $4,388,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter valued at about $30,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $49,000. Finally, Navigoe LLC bought a new position in shares of Alphabet during the 4th quarter valued at about $51,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $173.68 on Friday. The firm has a market cap of $2.11 trillion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm’s 50 day simple moving average is $160.14 and its 200-day simple moving average is $174.34. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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:GOOGL) last issued 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. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the company posted $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now 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. Over the last three months, insiders have sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOGL shares. Truist Financial dropped their price objective on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. KeyCorp increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Citigroup increased their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Wedbush set a $190.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

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.