Northeast Financial Group Inc. Has $2.80 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Northeast Financial Group Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,077 shares of the information services provider's stock after selling 2,837 shares during the quarter. Alphabet comprises approximately 1.0% of Northeast Financial Group Inc.'s investment portfolio, making the stock its 23rd biggest position. Northeast Financial Group Inc.'s holdings in Alphabet were worth $2,796,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. Mystic Asset Management Inc. boosted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its holdings in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Susquehanna raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. DA Davidson raised their price objective on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet Stock Performance

Shares of GOOGL opened at $203.90 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a 50-day moving average of $184.25 and a 200-day moving average of $173.20. The company has a market cap of $2.47 trillion, a PE ratio of 21.71, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,819 shares of company stock valued at $49,796,547. 11.64% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.