Alphabet Inc. (NASDAQ:GOOGL) is Northeast Investment Management's 5th Largest Position

Northeast Investment Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 560,626 shares of the information services provider's stock after selling 5,089 shares during the period. Alphabet accounts for approximately 4.2% of Northeast Investment Management's portfolio, making the stock its 5th biggest holding. Northeast Investment Management's holdings in Alphabet were worth $92,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC acquired a new position in Alphabet during the second quarter worth approximately $41,000. CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock worth $44,000 after buying an additional 109 shares during the period. Finally, Quarry LP acquired a new stake in shares of Alphabet in the 2nd quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Scotiabank raised Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. JMP Securities lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $205.90.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOGL traded down $3.09 on Friday, reaching $172.49. The company had a trading volume of 32,504,649 shares, compared to its average volume of 27,756,214. The firm has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The firm's 50 day simple moving average is $165.61 and its 200-day simple moving average is $170.18.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's payout ratio is 10.61%.

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.