By otakuyassine3@gmail.com 
Northeast Investment Management trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,219 shares of the information services provider’s stock after selling 3,877 shares during the quarter. Northeast Investment Management’s holdings in Alphabet were worth $20,800,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. grew its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its stake in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GOOG has been the topic of a number of research analyst reports. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.
View Our Latest Research Report on Alphabet
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 over the last 90 days. Insiders own 12.99% of the company’s stock.
Alphabet Trading Down 0.9 %
NASDAQ:GOOG opened at $185.43 on Thursday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The firm has a 50 day moving average of $193.70 and a 200 day moving average of $176.40. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.39 and a beta of 1.00.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s payout ratio is 9.94%.
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.
Further Reading
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