New England Research & Management Inc. Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

New England Research & Management Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,768 shares of the information services provider’s stock after purchasing an additional 486 shares during the quarter. Alphabet comprises 3.0% of New England Research & Management Inc.’s holdings, making the stock its 2nd biggest position. New England Research & Management Inc.’s holdings in Alphabet were worth $6,430,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Morgan Stanley lowered their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. BMO Capital Markets reduced their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,926 shares of company stock valued at $32,251,590 in the last quarter. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 0.3 %

Shares of GOOGL stock opened at $165.46 on Wednesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.21 and a beta of 1.04. The firm’s 50-day moving average is $161.63 and its 200-day moving average is $168.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

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.