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

Bar Harbor Wealth Management cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,040 shares of the information services provider's stock after selling 3,781 shares during the period. Alphabet comprises approximately 1.0% of Bar Harbor Wealth Management's investment portfolio, making the stock its 28th biggest position. Bar Harbor Wealth Management's holdings in Alphabet were worth $15,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Group Ltd. increased its holdings in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC increased its holdings in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,119 shares during the period. Eagle Capital Management LLC increased its holdings in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Alphabet in the fourth quarter valued at $154,716,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 11.64% of the company's stock.

Alphabet Stock Down 0.6%

NASDAQ:GOOGL traded down $1.03 on Friday, hitting $174.67. The stock had a trading volume of 27,636,835 shares, compared to its average volume of 30,440,616. The firm's fifty day simple moving average is $162.89 and its two-hundred day simple moving average is $174.64. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOGL. Cantor Fitzgerald decreased their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued 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 a consensus target price of $199.75.

Alphabet Company 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.