Massachusetts Wealth Management Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Massachusetts Wealth Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,690 shares of the information services provider’s stock after purchasing an additional 125 shares during the quarter. Massachusetts Wealth Management’s holdings in Alphabet were worth $238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DC Investments Management LLC purchased a new stake in Alphabet in the first quarter worth about $115,000. Guardian Wealth Management Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $184,000. Turim 21 Investimentos Ltda. lifted its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. qPULA Trading Management LP bought a new position in shares of Alphabet in the first quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after buying an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.3 %

Shares of Alphabet stock opened at $158.14 on Wednesday. The company has a market cap of $1.97 trillion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company’s 50 day moving average is $145.51 and its 200 day moving average is $140.58. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $159.89. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOG. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock worth $35,906,259 over the last quarter. Company insiders own 12.99% 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.