Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lessened by Northeast Investment Management

Northeast Investment Management cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 550,040 shares of the information services provider’s stock after selling 2,541 shares during the period. Alphabet accounts for about 4.0% of Northeast Investment Management’s holdings, making the stock its 7th biggest position. Northeast Investment Management’s holdings in Alphabet were worth $85,058,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wealth Group Ltd. lifted its holdings in shares of Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC lifted its holdings in shares of Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after purchasing an additional 1,119 shares during the period. Eagle Capital Management LLC lifted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet during the fourth quarter worth $154,716,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent research reports. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Truist Financial decreased their price target on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. Finally, UBS Group set a $195.00 target price on Alphabet in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Trading Down 0.7%

Alphabet stock opened at $177.35 on Thursday. The stock has a market cap of $2.15 trillion, a PE ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $161.71 and a 200 day moving average price of $174.51. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the firm posted $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is 9.36%.

About Alphabet

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.