Massachusetts Wealth Management Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Massachusetts Wealth Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,790 shares of the information services provider’s stock after acquiring an additional 100 shares during the quarter. Massachusetts Wealth Management’s holdings in Alphabet were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Kennedy Capital Management LLC increased its holdings in Alphabet by 13.2% during the third quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after buying an additional 7,556 shares during the period. Baker Avenue Asset Management LP increased its holdings in Alphabet by 1.4% during the third quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock valued at $3,230,000 after buying an additional 341 shares during the period. Ramirez Asset Management Inc. purchased a new position in Alphabet during the third quarter valued at approximately $2,643,000. Holderness Investments Co. increased its holdings in Alphabet by 1.7% during the third quarter. Holderness Investments Co. now owns 18,480 shares of the information services provider’s stock valued at $2,437,000 after buying an additional 300 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in Alphabet by 0.8% during the third quarter. Integrated Wealth Concepts LLC now owns 188,294 shares of the information services provider’s stock valued at $24,827,000 after buying an additional 1,499 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Trading Up 0.4 %

NASDAQ:GOOG opened at $187.39 on Friday. The company has a market capitalization of $2.32 trillion, a P/E ratio of 28.74, a PEG ratio of 1.41 and a beta of 1.05. The firm has a fifty day simple moving average of $175.99 and a 200-day simple moving average of $156.79. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.62. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 146,288 shares of company stock worth $25,345,053 over the last three months. Company insiders own 12.99% of the company’s stock.

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.