Eastern Bank trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,191 shares of the information services provider’s stock after selling 1,060 shares during the period. Eastern Bank’s holdings in Alphabet were worth $2,204,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GOOG. Corrado Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $27,000. Gould Capital LLC lifted its holdings in Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the period. Essex Investment Management Co. LLC lifted its holdings in Alphabet by 1,900.0% in the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after buying an additional 304 shares during the period. My Personal CFO LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Milestone Wealth LLC lifted its holdings in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after buying an additional 361 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. 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 acquired 309,931 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 816,599 shares of company stock valued at $24,142,177. Corporate insiders own 12.99% of the company’s stock.
Analyst Ratings Changes
Alphabet Stock Down 0.3 %
Shares of GOOG stock opened at $120.56 on Wednesday. The firm has a fifty day moving average of $119.36 and a 200-day moving average of $105.13. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.07.
Alphabet (NASDAQ:GOOG – Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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