Northeast Investment Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 597,976 shares of the information services provider’s stock after selling 11,179 shares during the period. Alphabet comprises 3.4% of Northeast Investment Management’s portfolio, making the stock its 4th biggest holding. Northeast Investment Management’s holdings in Alphabet were worth $52,759,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Spreng Capital Management Inc. boosted its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. boosted its position in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its position in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC boosted its position in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management boosted its position in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold 112,192 shares of company stock valued at $11,373,417 in the last quarter. Company insiders own 11.44% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the firm earned $1.53 EPS. Analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of recent analyst reports. KeyCorp reduced their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. New Street Research started coverage on shares of Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Credit Suisse Group cut their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Finally, Evercore ISI cut their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $131.17.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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