Alphabet Inc. $GOOGL is New England Research & Management Inc.’s Largest Position

New England Research & Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,868 shares of the information services provider’s stock after selling 9,147 shares during the period. Alphabet accounts for 4.5% of New England Research & Management Inc.’s portfolio, making the stock its biggest position. New England Research & Management Inc.’s holdings in Alphabet were worth $9,692,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet in the 2nd quarter worth about $31,000. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in Alphabet by 37.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after purchasing an additional 89 shares during the period. S&T Bank PA increased its stake in shares of Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Finally, Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOGL shares. Cantor Fitzgerald boosted their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Citizens Jmp lifted their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Royal Bank Of Canada restated a “buy” rating and set a $315.00 price target on shares of Alphabet in a report on Tuesday, December 2nd. Finally, Moffett Nathanson lifted their price target on Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $315.18.

Alphabet Trading Down 3.2%

Shares of NASDAQ:GOOGL opened at $296.72 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a market cap of $3.58 trillion, a P/E ratio of 29.26, a PEG ratio of 1.77 and a beta of 1.07. The stock’s fifty day moving average price is $286.56 and its 200-day moving average price is $232.35.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% 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 Alphabet stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,128 shares of company stock worth $63,183,331 over the last quarter. Company insiders own 11.64% 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.