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

New England Research & Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 49,015 shares of the information services provider’s stock after selling 75 shares during the period. Alphabet accounts for approximately 4.1% of New England Research & Management Inc.’s holdings, making the stock its largest holding. New England Research & Management Inc.’s holdings in Alphabet were worth $8,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mystic Asset Management Inc. raised its holdings in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC lifted its stake in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its stake in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Morgan Stanley raised their price target on Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, July 21st. Wells Fargo & Company raised their price target on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. UBS Group boosted their price target on Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $222.85.

Alphabet Stock Performance

Shares of GOOGL stock opened at $249.53 on Thursday. The business’s fifty day simple moving average is $206.38 and its 200-day simple moving average is $179.14. The company has a market cap of $3.02 trillion, a PE ratio of 26.57, a PEG ratio of 1.69 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $253.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. Company insiders own 11.64% of the company’s stock.

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.