Boston Research & Management Inc. Has $1.86 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Boston Research & Management Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,145 shares of the information services provider’s stock after selling 575 shares during the quarter. Boston Research & Management Inc.’s holdings in Alphabet were worth $1,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $34,000. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the second quarter valued at about $37,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth about $44,000. Hoese & Co LLP raised its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new stake in Alphabet in the 2nd quarter worth about $48,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,667 shares of company stock worth $33,964,256. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Price Performance

GOOG stock opened at $164.64 on Friday. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a 50 day simple moving average of $166.26 and a 200 day simple moving average of $166.79. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

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.