Penobscot Investment Management Company Inc. Sells 1,429 Shares of Alphabet Inc. $GOOG

Penobscot Investment Management Company Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,697 shares of the information services provider’s stock after selling 1,429 shares during the quarter. Alphabet accounts for 1.4% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 17th biggest position. Penobscot Investment Management Company Inc.’s holdings in Alphabet were worth $17,698,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GOOG. Vanguard Group Inc. raised its position in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares in the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock worth $58,712,878,000 after purchasing an additional 953,790 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock worth $5,643,262,000 after purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP increased its position in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock valued at $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Oppenheimer boosted their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, April 15th. Raymond James Financial reissued a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Finally, TD Cowen upped their price objective on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $378.53.

Alphabet Trading Down 0.3%

GOOG stock traded down $1.21 during midday trading on Friday, hitting $355.03. The company had a trading volume of 11,607,032 shares, compared to its average volume of 21,891,652. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $177.54 and a 52 week high of $404.47. The stock’s 50 day moving average price is $369.81 and its 200 day moving average price is $335.21. The stock has a market cap of $4.30 trillion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.52 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter last year, the business earned $2.81 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Several pieces highlighted Alphabet’s durable AI and cloud execution, including commentary that its distribution across Search, Android, YouTube, and Google Cloud gives it an edge in monetizing AI better than many rivals.
• Positive Sentiment: Analysts and market commentary remained constructive, with Zacks upgrading Alphabet to “strong-buy,” and multiple reports saying the stock still looks undervalued after its strong rally and may have further upside from current levels.
• Positive Sentiment: Alphabet’s cloud and AI ecosystem continues to draw positive coverage, including a new agentic AI collaboration with Accenture and reports that digital demand and data-center growth could support the business in the second half of 2026.
• Positive Sentiment: Long-term confidence also got a boost from comments that Alphabet could be a winner in the AI race due to its massive distribution footprint and ability to turn AI spending into real returns.
• Neutral Sentiment: Alphabet’s search product set a record for queries per second during the World Cup, reinforcing the strength of its core franchise, though this is more of a usage signal than a direct earnings catalyst.
• Neutral Sentiment: Waymo’s plan to expand driverless rides to more cities supports Alphabet’s optionality in autonomous vehicles, but the impact on near-term stock performance is likely limited.
• Negative Sentiment: News that Google and OpenAI provided AI model access to Singapore-based affiliates of Chinese firms has renewed policy and export-control concerns, which could raise regulatory risk around AI distribution.
• Negative Sentiment: Alphabet is also facing more scrutiny abroad, including the UK bringing Google cloud services under direct oversight and an ongoing legal fight in India over its ads platform.
• Negative Sentiment: Some traders remain cautious about competition, with reports suggesting Meta could challenge Google’s AI leadership and that Alphabet’s recent price action has lagged broader tech at times.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.