Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,090,925 shares of the information services provider’s stock after selling 1,989,328 shares during the period. Alphabet accounts for approximately 2.6% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 3rd biggest holding. Massachusetts Financial Services Co. MA owned about 0.38% of Alphabet worth $8,577,612,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wealth Dimensions Group Ltd. lifted its position in shares of Alphabet by 2.8% during the 2nd quarter. Wealth Dimensions Group Ltd. now owns 5,782 shares of the information services provider’s stock worth $1,053,000 after buying an additional 159 shares in the last quarter. Black Diamond Financial LLC lifted its position in shares of Alphabet by 29.0% during the 2nd quarter. Black Diamond Financial LLC now owns 5,140 shares of the information services provider’s stock worth $936,000 after buying an additional 1,155 shares in the last quarter. Waycross Partners LLC lifted its position in shares of Alphabet by 10.9% during the 2nd quarter. Waycross Partners LLC now owns 186,756 shares of the information services provider’s stock worth $34,018,000 after buying an additional 18,302 shares in the last quarter. Angeles Investment Advisors LLC lifted its position in shares of Alphabet by 34.3% during the 2nd quarter. Angeles Investment Advisors LLC now owns 10,938 shares of the information services provider’s stock worth $1,992,000 after buying an additional 2,795 shares in the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Alphabet by 1.9% during the 2nd quarter. Valley Forge Investment Consultants Inc. ADV now owns 5,600 shares of the information services provider’s stock worth $1,020,000 after buying an additional 103 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders have sold a total of 177,605 shares of company stock worth $29,277,931 in the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Guggenheim lifted their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley lowered their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group lifted their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Truist Financial reaffirmed a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Monday, September 16th. Finally, Evercore ISI reduced their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Price Performance

Alphabet stock opened at $163.95 on Monday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $162.83 and its 200 day simple moving average is $166.68. The firm has a market capitalization of $2.03 trillion, a PE ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 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.