Bar Harbor Wealth Management Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Bar Harbor Wealth Management raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,821 shares of the information services provider’s stock after buying an additional 1,692 shares during the quarter. Alphabet makes up approximately 1.3% of Bar Harbor Wealth Management’s portfolio, making the stock its 19th biggest position. Bar Harbor Wealth Management’s holdings in Alphabet were worth $19,464,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LMR Partners LLP acquired a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the second quarter worth approximately $41,000. Quarry LP acquired a new stake in shares of Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.5 %

NASDAQ GOOGL opened at $191.01 on Tuesday. The company has a market cap of $2.34 trillion, a P/E ratio of 25.33, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a 50-day moving average of $183.05 and a 200-day moving average of $172.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,053 shares of company stock valued at $27,559,701. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.15.

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.