Northeast Investment Management Buys 129,217 Shares of Alphabet Inc. (NASDAQ:GOOG)

Northeast Investment Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,892.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,045 shares of the information services provider’s stock after purchasing an additional 129,217 shares during the quarter. Northeast Investment Management’s holdings in Alphabet were worth $13,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Alta Advisers Ltd bought a new position in shares of Alphabet during the 3rd quarter worth about $1,365,000. West Oak Capital LLC raised its holdings in shares of Alphabet by 1,933.8% in the 3rd quarter. West Oak Capital LLC now owns 24,100 shares of the information services provider’s stock worth $2,317,000 after acquiring an additional 22,915 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Alphabet by 1,835.5% in the 3rd quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock worth $619,633,000 after acquiring an additional 6,111,475 shares during the last quarter. IFG Advisory LLC raised its holdings in shares of Alphabet by 2,219.3% in the 3rd quarter. IFG Advisory LLC now owns 22,938 shares of the information services provider’s stock worth $2,205,000 after acquiring an additional 21,949 shares during the last quarter. Finally, Northwest Investment Counselors LLC raised its holdings in shares of Alphabet by 1,891.9% in the 3rd quarter. Northwest Investment Counselors LLC now owns 41,791 shares of the information services provider’s stock worth $4,018,000 after acquiring an additional 39,693 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Alphabet Stock Up 5.7 %

Alphabet stock opened at $99.28 on Monday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The firm has a 50 day moving average price of $93.52 and a 200-day moving average price of $102.16. The company has a market capitalization of $1.28 trillion, a P/E ratio of 19.72, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 182,312 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was acquired at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the acquisition, the insider now owns 1,294,527 shares in the company, valued at approximately $44,790,634.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Sanford C. Bernstein set a $120.00 target price on shares of Alphabet in a report on Thursday, January 12th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 21st. Societe Generale lowered their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a research note on Friday, November 18th. Finally, Raymond James decreased their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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