Bath Savings Trust Co Sells 3,315 Shares of Alphabet Inc. $GOOGL

Key Points

• Bath Savings Trust Co has reduced its stake in Alphabet Inc. by 1.7%, owning 193,943 shares after selling 3,315 shares in the second quarter.
• Alphabet's most recent quarterly earnings report showed an EPS of $2.31, surpassing estimates by $0.16, with revenues of $96.43 billion for the quarter.
• The company recently announced a quarterly dividend of $0.21 per share, resulting in an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Bath Savings Trust Co trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,943 shares of the information services provider's stock after selling 3,315 shares during the period. Alphabet accounts for about 3.5% of Bath Savings Trust Co's investment portfolio, making the stock its 7th biggest holding. Bath Savings Trust Co's holdings in Alphabet were worth $34,178,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Forum Financial Management LP grew its holdings in Alphabet by 6.4% during the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock valued at $14,985,000 after purchasing an additional 4,756 shares during the period. AAF Wealth Management LLC grew its holdings in Alphabet by 5.1% during the fourth quarter. AAF Wealth Management LLC now owns 4,119 shares of the information services provider's stock valued at $780,000 after purchasing an additional 201 shares during the period. Finally, Retirement Planning Group LLC increased its stake in Alphabet by 7.0% in the fourth quarter. Retirement Planning Group LLC now owns 13,469 shares of the information services provider's stock valued at $2,550,000 after purchasing an additional 877 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock traded down $1.39 during mid-day trading on Tuesday, hitting $251.14. 7,828,454 shares of the company's stock traded hands, compared to its average volume of 36,669,504. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50 day simple moving average of $210.78 and a two-hundred day simple moving average of $180.96. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.72 and a beta of 1.01.

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

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOGL shares. Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday. Canaccord Genuity Group lifted their target price on Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Loop Capital restated a "hold" rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Piper Sandler raised their price target on Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Finally, Morgan Stanley lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $231.31.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 in the last 90 days. Company insiders own 11.55% of the company's stock.

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.