Northeast Investment Management Lowers Position in Alphabet Inc. $GOOG

Key Points

• Northeast Investment Management has reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.7%, owning 105,400 shares worth approximately $18.7 million after selling 1,791 shares.
• Insiders at Alphabet, including CEO Sundar Pichai, have recently sold significant amounts of stock, reducing their positions by up to 2.78% and indicating potential shifts in confidence.
• Alphabet's current market value is approximately $3.04 trillion, with the stock recently trading at around $251.34, down by 2.2%.

Northeast Investment Management lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,400 shares of the information services provider's stock after selling 1,791 shares during the period. Northeast Investment Management's holdings in Alphabet were worth $18,697,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOG. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter worth about $26,000. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Fairman Group LLC grew its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 2.2%

Shares of GOOG stock opened at $251.34 on Wednesday. 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 company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.74 and a beta of 1.00. The stock has a 50 day simple moving average of $234.23 and a 200-day simple moving average of $194.41. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Scotiabank restated an "outperform" rating and set a $310.00 price target on shares of Alphabet in a research note on Thursday, October 16th. TD Cowen boosted their price target on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Oppenheimer set a $300.00 target price on Alphabet and gave the company an "outperform" rating in a research report on Monday. Finally, Hsbc Global Res raised Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $246.26.

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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