Bank of New Hampshire Sells 5,756 Shares of Alphabet Inc. $GOOGL

Key Points

• Bank of New Hampshire reduced its holdings in Alphabet Inc. (NASDAQ: GOOGL) by 11.8% in the second quarter, owning approximately 42,942 shares valued at $7,568,000.
• Insider sales include CAO Amie Thuener O'toole selling 2,778 shares valued at $680,610, while director Kavitark Ram Shriram sold 15,000 shares for approximately $2.79 million.
• Recent analyst reports indicate a consensus rating of "Moderate Buy" for Alphabet, with price target upgrades from firms like Stifel Nicolaus and Citigroup.

Bank of New Hampshire decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,942 shares of the information services provider's stock after selling 5,756 shares during the period. Alphabet comprises about 1.9% of Bank of New Hampshire's investment portfolio, making the stock its 12th biggest holding. Bank of New Hampshire's holdings in Alphabet were worth $7,568,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Enzi Wealth increased its position in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC boosted its holdings in Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after acquiring an additional 67 shares during the period. Rainey & Randall Wealth Advisors Inc. boosted its holdings in Alphabet by 2.1% during the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after acquiring an additional 67 shares during the period. Finally, Florida Financial Advisors LLC boosted its holdings in Alphabet by 0.4% during the first quarter. Florida Financial Advisors LLC now owns 16,311 shares of the information services provider's stock valued at $2,523,000 after acquiring an additional 67 shares during the period. Institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GOOGL shares. Tigress Financial upped their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Wedbush upped their price objective on Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a report on Sunday. Finally, DA Davidson raised their price target on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.54.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 over the last three months. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 1.1%

Shares of GOOGL stock traded up $2.69 on Friday, hitting $254.72. The stock had a trading volume of 55,452,697 shares, compared to its average volume of 38,316,584. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market cap of $3.08 trillion, a P/E ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $209.36 and a two-hundred day moving average price of $180.36.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.

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.