Alphabet Inc. (NASDAQ:GOOGL) is Massachusetts Financial Services Co. MA's 6th Largest Position

Massachusetts Financial Services Co. MA cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,162,251 shares of the information services provider's stock after selling 5,111,511 shares during the period. Alphabet comprises about 1.7% of Massachusetts Financial Services Co. MA's investment portfolio, making the stock its 6th largest position. Massachusetts Financial Services Co. MA owned about 0.26% of Alphabet worth $4,973,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter worth $39,000. Elite Financial Inc. acquired a new position in Alphabet in the first quarter worth $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet in the fourth quarter worth $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in Alphabet in the first quarter worth $49,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.9%

NASDAQ:GOOGL traded up $3.70 on Thursday, hitting $193.93. The stock had a trading volume of 56,671,075 shares, compared to its average volume of 36,920,125. The company has a market cap of $2.35 trillion, a PE ratio of 21.62, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The business's fifty day moving average is $174.67 and its 200 day moving average is $173.13. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOOGL shares. BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. JMP Securities upped their price target on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, April 23rd. Roth Capital upped their price target on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $210.79.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock worth $43,523,710. Company insiders own 11.64% of the company's stock.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.