New England Research & Management Inc. Buys 200 Shares of Alphabet Inc. $GOOG

New England Research & Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,591 shares of the information services provider’s stock after buying an additional 200 shares during the quarter. New England Research & Management Inc.’s holdings in Alphabet were worth $1,879,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Alphabet Trading Down 0.1%

GOOG opened at $251.42 on Wednesday. The stock has a market capitalization of $3.04 trillion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $253.23. The company has a 50-day simple moving average of $205.68 and a 200 day simple moving average of $179.98.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,588 shares of company stock valued at $44,296,554. Company insiders own 12.99% 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.