Northeast Investment Management Acquires 537 Shares of Alphabet Inc. (GOOG)
Northeast Investment Management increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,678 shares of the information services provider’s stock after acquiring an additional 537 shares during the quarter. Northeast Investment Management’s holdings in Alphabet were worth $11,521,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. increased its stake in Alphabet by 39.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank increased its stake in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. St. Johns Investment Management Company LLC increased its stake in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the period. Cribstone Capital Management LLC increased its stake in Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares during the period. Finally, Baker Boyer National Bank acquired a new position in Alphabet in the 2nd quarter valued at $200,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.
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In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the transaction, the chief executive officer now directly owns 1,389 shares of the company’s stock, valued at $1,287,311.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Insiders sold 26,158 shares of company stock worth $25,062,399 over the last ninety days. 13.92% of the stock is owned by corporate insiders.
Several brokerages have issued reports on GOOG. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,067.64 price objective on the stock in a research note on Monday. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Thursday, October 19th. Pivotal Research boosted their target price on shares of Alphabet from $940.00 to $970.00 and gave the stock a “hold” rating in a research report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Finally, Barclays PLC restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,047.52.
Shares of Alphabet Inc. (GOOG) opened at $1,025.75 on Tuesday. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $1,048.39. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $714,304.06, a price-to-earnings ratio of 34.42 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same period last year, the company earned $9.06 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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