Northeast Financial Group Inc. Acquires 7,918 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Northeast Financial Group Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 126.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,167 shares of the information services provider’s stock after buying an additional 7,918 shares during the period. Alphabet accounts for about 0.9% of Northeast Financial Group Inc.’s investment portfolio, making the stock its 21st biggest holding. Northeast Financial Group Inc.’s holdings in Alphabet were worth $2,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rice Partnership LLC grew its holdings in Alphabet by 1.0% during the third quarter. Rice Partnership LLC now owns 76,787 shares of the information services provider’s stock valued at $10,048,000 after purchasing an additional 764 shares during the period. FFT Wealth Management LLC grew its holdings in Alphabet by 7.2% during the third quarter. FFT Wealth Management LLC now owns 14,435 shares of the information services provider’s stock valued at $1,889,000 after purchasing an additional 966 shares during the period. Blue Investment Partners LLC grew its holdings in Alphabet by 96.4% during the third quarter. Blue Investment Partners LLC now owns 24,272 shares of the information services provider’s stock valued at $3,176,000 after purchasing an additional 11,912 shares during the period. Stifel Financial Corp grew its holdings in Alphabet by 0.6% during the third quarter. Stifel Financial Corp now owns 6,547,968 shares of the information services provider’s stock valued at $856,867,000 after purchasing an additional 37,124 shares during the period. Finally, Security National Bank of SO Dak grew its holdings in Alphabet by 0.7% during the third quarter. Security National Bank of SO Dak now owns 29,354 shares of the information services provider’s stock valued at $3,841,000 after purchasing an additional 205 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $185.41 on Friday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The firm has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.38 and a beta of 1.01. The firm’s 50-day simple moving average is $171.70 and its 200 day simple moving average is $153.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the firm earned $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. Needham & Company LLC boosted their price objective on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Barclays upped their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Roth Mkm upped their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. KeyCorp upped their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $193.69.

Alphabet Company 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.