Camden National Bank Takes $221,000 Position in Alphabet Inc (GOOG)

Camden National Bank purchased a new stake in Alphabet Inc (NASDAQ:GOOG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 198 shares of the information services provider’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its stake in Alphabet by 0.9% during the second quarter. BlackRock Inc. now owns 19,245,773 shares of the information services provider’s stock valued at $21,471,546,000 after buying an additional 174,333 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Alphabet by 132,719.3% during the first quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after buying an additional 18,665,638 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Alphabet by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 3,644,595 shares of the information services provider’s stock valued at $4,066,096,000 after buying an additional 27,153 shares in the last quarter. Janus Henderson Group PLC raised its stake in Alphabet by 1.4% during the second quarter. Janus Henderson Group PLC now owns 3,335,851 shares of the information services provider’s stock valued at $3,721,677,000 after buying an additional 47,303 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its stake in Alphabet by 684.2% during the first quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock valued at $2,182,080,000 after buying an additional 1,845,160 shares in the last quarter. 34.16% of the stock is owned by hedge funds and other institutional investors.

In related news, Director L John Doerr sold 10,262 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $1,218.20, for a total value of $12,501,168.40. Following the completion of the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $4,245,427. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $463,194.40. The disclosure for this sale can be found here. Insiders have sold a total of 77,621 shares of company stock worth $91,928,242 over the last quarter. Insiders own 13.11% of the company’s stock.

Several analysts have issued reports on GOOG shares. Barclays restated a “buy” rating on shares of Alphabet in a research note on Friday, September 14th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Wednesday, August 29th. Macquarie restated a “buy” rating on shares of Alphabet in a research note on Monday, September 10th. ValuEngine cut Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, BidaskClub cut Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,301.81.

Shares of Alphabet stock opened at $1,055.81 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. The company has a market cap of $736.09 billion, a PE ratio of 23.80 and a beta of 1.16. Alphabet Inc has a twelve month low of $980.64 and a twelve month high of $1,273.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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