Massachusetts Wealth Management Purchases 210 Shares of Alphabet Inc. $GOOG

Massachusetts Wealth Management grew its position in Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,456 shares of the information services provider’s stock after acquiring an additional 210 shares during the period. Massachusetts Wealth Management’s holdings in Alphabet were worth $1,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley increased its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Raymond James Financial restated an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Alphabet Stock Down 1.9%

GOOG stock opened at $237.49 on Friday. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $226.97 and a 200-day moving average price of $189.81. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Company 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.