Alphabet Inc. $GOOGL Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,072 shares of the information services provider’s stock after selling 5,934 shares during the period. Alphabet makes up 3.3% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 5th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $41,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $32,000. EMC Capital Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $33,000. PMV Capital Advisers LLC bought a new stake in Alphabet during the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet in the 4th quarter valued at $38,000. Finally, Bard Associates Inc. purchased a new stake in Alphabet in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 2.2%

Shares of GOOGL opened at $346.77 on Friday. The business has a 50-day moving average of $368.89 and a 200 day moving average of $337.97. Alphabet Inc. has a fifty-two week low of $183.71 and a fifty-two week high of $408.61. The firm has a market cap of $4.20 trillion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. As a group, research analysts forecast that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 in the last ninety days. Insiders own 11.61% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. HSBC reaffirmed a “buy” rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Thursday, April 30th. Citigroup reissued an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Finally, BNP Paribas Exane lifted their target price on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $414.11.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street remains broadly bullish on Alphabet, with multiple reports citing strong cloud growth, AI-driven momentum in Search and YouTube, and price targets still above current trading levels. Article Title
• Positive Sentiment: Analysts say Alphabet could post a strong Q2, helped by Google Cloud strength and the value of its Anthropic stake, which may support upside if earnings beat expectations. Article Title
• Neutral Sentiment: Investors are also positioning for Alphabet’s upcoming earnings report, with options traders expecting a sizable move, indicating that the stock may stay volatile into the release. Article Title
• Negative Sentiment: Bloomberg-reported delays to Gemini 3.5 Pro have sparked fears that Google is lagging in AI, with concerns that the model’s coding performance fell short of internal goals. Article Title
• Negative Sentiment: Alphabet is facing added regulatory pressure after the EU ordered it to open Android and search data to rival AI companies, and a San Francisco order to remove “nudify” apps from app stores adds to the broader legal overhang. Article Title
• Negative Sentiment: Securities-fraud investigation headlines are creating an additional near-term overhang, even though these are still allegations and not a proven finding of wrongdoing. Article Title

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.