Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Reduced by Bank of New Hampshire

Bank of New Hampshire cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,698 shares of the information services provider's stock after selling 2,355 shares during the period. Alphabet accounts for about 2.0% of Bank of New Hampshire's holdings, making the stock its 8th biggest position. Bank of New Hampshire's holdings in Alphabet were worth $7,531,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the fourth quarter worth $30,000. PayPay Securities Corp increased its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC purchased a new position in Alphabet during the 4th quarter worth $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOGL. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, Mizuho lowered their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Ten 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Stock Up 2.2%

Shares of GOOGL traded up $3.81 during midday trading on Tuesday, reaching $179.90. 23,046,734 shares of the company were exchanged, compared to its average volume of 30,181,786. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a 50-day moving average price of $160.52 and a 200-day moving average price of $174.46. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company 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 quarter last year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,770 shares of company stock worth $32,036,638. 11.64% of the stock is owned by company insiders.

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.