Northeast Investment Management Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Northeast Investment Management decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 560,626 shares of the information services provider’s stock after selling 5,089 shares during the period. Alphabet comprises 4.2% of Northeast Investment Management’s portfolio, making the stock its 5th biggest position. Northeast Investment Management’s holdings in Alphabet were worth $92,980,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. lifted its stake in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares in the last quarter. Quent Capital LLC increased its position in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Empowered Funds LLC increased its position in shares of Alphabet by 12.3% during the 1st quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock worth $28,351,000 after purchasing an additional 20,572 shares during the last quarter. Sustainable Insight Capital Management LLC increased its position in shares of Alphabet by 146.4% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 8,920 shares of the information services provider’s stock worth $1,346,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Alphabet by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 513,406 shares of the information services provider’s stock worth $77,488,000 after purchasing an additional 11,837 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GOOGL. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Alphabet stock opened at $172.49 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The stock has a 50-day moving average price of $165.61 and a two-hundred day moving average price of $170.13.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by insiders.

Alphabet 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.