First Bancorp Inc ME Sells 339 Shares of Alphabet Inc. (NASDAQ:GOOGL)

First Bancorp Inc ME reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,840 shares of the information services provider’s stock after selling 339 shares during the period. Alphabet makes up approximately 1.1% of First Bancorp Inc ME’s holdings, making the stock its 18th largest holding. First Bancorp Inc ME’s holdings in Alphabet were worth $1,673,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOGL. LMR Partners LLP bought a new stake in Alphabet during the third quarter worth about $32,000. Denver PWM LLC grew its position in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Quarry LP acquired a new stake in Alphabet during the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC boosted its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. DA Davidson upped their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Needham & Company LLC lifted their target price on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Nine analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $211.00.

Alphabet Trading Up 1.6 %

Shares of NASDAQ:GOOGL opened at $204.02 on Friday. The stock has a market capitalization of $2.50 trillion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The company’s 50-day moving average price is $188.19 and its two-hundred day moving average price is $174.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $130.66 and a one year high of $205.48.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,630 shares of company stock valued at $22,258,133. 11.55% of the stock is owned by insiders.

Alphabet 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.