Penobscot Investment Management Company Inc. Sells 1,466 Shares of Alphabet Inc. $GOOGL

Key Points

• Penobscot Investment Management trimmed its stake in Alphabet by 1.0%, selling 1,466 shares and leaving it with 151,006 shares worth about $47.27 million (3.6% of the firm's portfolio and its 5th-largest holding).
• Alphabet reported a blockbuster Q1 beat (EPS $5.11 vs. $2.64 expected; revenue $109.9B vs. $106.98B), prompting multiple analyst price-target raises and a MarketBeat consensus rating of Moderate Buy with a $406.71 target.
• Corporate insiders have been net sellers recently — CEO Sundar Pichai sold 32,500 shares (~$10.0M) and insiders disposed of 158,553 shares worth about $47.95M in the past three months, though insiders still own 11.61% of the company.

Penobscot Investment Management Company Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,006 shares of the information services provider's stock after selling 1,466 shares during the quarter. Alphabet comprises approximately 3.6% of Penobscot Investment Management Company Inc.'s investment portfolio, making the stock its 5th biggest holding. Penobscot Investment Management Company Inc.'s holdings in Alphabet were worth $47,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Brighton Jones LLC raised its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% in the fourth 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 in the last quarter. Matrix Asset Advisors Inc. NY raised its stake in Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC raised its position in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after buying an additional 48,805 shares during the period. Finally, United Bank lifted its position in shares of Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after purchasing an additional 3,120 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOGL. Morgan Stanley increased their price objective on Alphabet from $330.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Truist Financial lifted their price target on shares of Alphabet from $385.00 to $415.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Cantor Fitzgerald lifted their price objective on Alphabet from $395.00 to $465.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Roth Mkm reissued a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. Finally, DA Davidson lifted their price target on shares of Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $406.71.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company's stock, valued at $505,573,853.40. This trade represents a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares in the company, valued at $14,293,309.12. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 158,553 shares of company stock worth $47,951,856. Corporate insiders own 11.61% of the company's stock.

Alphabet Trading Down 0.0%

Shares of NASDAQ GOOGL opened at $397.99 on Friday. The company's 50 day simple moving average is $318.66 and its 200 day simple moving average is $311.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $4.81 trillion, a P/E ratio of 30.36, a P/E/G ratio of 1.66 and a beta of 1.26. Alphabet Inc. has a fifty-two week low of $152.20 and a fifty-two week high of $400.10.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, analysts predict that Alphabet Inc. will post 14.01 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is 6.41%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Huge Q1 beat and cash generation — Alphabet reported blockbuster Q1 results and large net income, highlighting strong Search and AI-driven revenue that underpins recent multiple expansion and investor confidence. It Takes Meta Almost 9 Minutes...
• Positive Sentiment: Analyst upgrades lift sentiment — Mizuho raised its price target to $460 (outperform) and other shops have pushed targets higher, reinforcing buy-side momentum after the earnings beat. Alphabet Given New $460.00 Price Target at Mizuho
• Positive Sentiment: New consumer products and recurring revenue — Google rebranded Fitbit to Google Health, launched a $9.99/month AI health coach (May 19) and unveiled the Fitbit Air wearable; subscription services could add predictable ARPU. Google's $9.99-per-month AI health coach...
• Positive Sentiment: Market leadership narrative — Coverage notes Alphabet closing the gap on Nvidia for the world's largest market cap, a bullish signal that may attract momentum and index flows. Alphabet Is About to Overtake Nvidia...
• Neutral Sentiment: Hiring and process changes — Google is piloting AI-assisted software-engineer interviews and exploring personal AI agents (Remy), which could improve hiring throughput but raise operational and fairness questions. Google plans to let software engineers...
• Neutral Sentiment: R&D and partnerships — DeepMind has taken a minority stake to train models on the EVE Online environment and Google continues investing in personal AI agents; long-term upside but near-term costs remain. Google DeepMind Will Train AI Models...
• Negative Sentiment: Regulatory/legal risk in EU news case — Google proposed changes to search news displays to avoid further EU fines, highlighting ongoing exposure to large competition penalties that could hit earnings or require product changes. Google moves to avert EU fines...
• Negative Sentiment: UK display-ads legal claim — A £3bn collective claim alleging monopolization of display ads introduces another material legal overhang that could pressure valuation until resolved. Google facing £3bn legal claim...

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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