Massachusetts Wealth Management Has $1.13 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Massachusetts Wealth Management increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,246 shares of the information services provider’s stock after purchasing an additional 270 shares during the quarter. Massachusetts Wealth Management’s holdings in Alphabet were worth $1,132,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its position in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. LSV Asset Management acquired a new stake in Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.6%

Alphabet stock opened at $175.88 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company’s 50 day simple moving average is $164.57 and its 200 day simple moving average is $176.34. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Westpark Capital restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction 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. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 over the last 90 days. 12.99% of the stock is owned by corporate 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.