Alphabet Inc. (NASDAQ:GOOG) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 12.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,760 shares of the information services provider’s stock after selling 1,640 shares during the period. New England Research & Management Inc.’s holdings in Alphabet were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GOOG. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after acquiring an additional 192,607,045 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after acquiring an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after acquiring an additional 59,964,963 shares during the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOG shares. UBS Group set a $120.00 price target on Alphabet in a research note on Monday, February 6th. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a research note on Monday, February 6th. Piper Sandler lowered their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Bank of America boosted their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, Jefferies Financial Group set a $125.00 price objective on Alphabet in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.11.

Alphabet Price Performance

NASDAQ:GOOG opened at $102.46 on Friday. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $144.16. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.31 trillion, a P/E ratio of 22.51, a P/E/G ratio of 1.33 and a beta of 1.09. The stock’s fifty day moving average is $95.69 and its two-hundred day moving average is $96.73.

Alphabet (NASDAQ:GOOG – 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 the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. Alphabet’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.53 EPS. Equities analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

About Alphabet

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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.