Eastern Bank Purchases 64,597 Shares of Alphabet Inc. (NASDAQ:GOOG)

Eastern Bank boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 401.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,674 shares of the information services provider's stock after purchasing an additional 64,597 shares during the quarter. Eastern Bank's holdings in Alphabet were worth $13,488,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider's stock valued at $12,815,986,000 after buying an additional 13,876,534 shares in the last quarter. Swedbank AB purchased a new position in shares of Alphabet in the first quarter valued at $1,378,708,000. Capital International Investors increased its position in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider's stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Alphabet by 51.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider's stock valued at $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC lifted its position in Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider's stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company's stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amie Thuener O'toole sold 2,835 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company's stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Wednesday, July 10th. Oppenheimer lowered their price objective on Alphabet from $210.00 to $185.00 and set an "outperform" rating for the company in a research note on Wednesday, September 25th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They issued a "buy" rating and a $215.00 target price for the company. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They set a "sector outperform" rating and a $212.00 price target on the stock. Finally, DA Davidson raised shares of Alphabet to a "hold" rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $186.90.

Alphabet Trading Up 0.6 %

GOOG stock opened at $166.82 on Wednesday. The company has a market capitalization of $2.06 trillion, a PE ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm's 50-day moving average is $163.23 and its 200 day moving average is $169.96.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company's revenue was up 13.6% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Company 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.