Alphabet Inc. $GOOGL Position Reduced by Northeast Financial Group Inc.

Northeast Financial Group Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,051 shares of the information services provider's stock after selling 3,026 shares during the period. Alphabet accounts for about 0.8% of Northeast Financial Group Inc.'s investment portfolio, making the stock its 25th largest holding. Northeast Financial Group Inc.'s holdings in Alphabet were worth $2,653,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOGL. Nuveen LLC bought a new position in shares of Alphabet in the first quarter valued at $4,317,606,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock valued at $1,593,201,000 after buying an additional 7,774,811 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Finally, Amundi raised its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 1.9%

Shares of NASDAQ:GOOGL opened at $245.76 on Wednesday. The stock has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00. The firm has a fifty day moving average price of $223.41 and a 200 day moving average price of $187.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts expect that Alphabet Inc. will post 8.9 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 issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last three months. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Oppenheimer reissued an "outperform" rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Melius Research boosted their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Truist Financial boosted their target price on shares of Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $242.98.

About Alphabet

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.

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