New England Capital Financial Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

New England Capital Financial Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632 shares of the information services provider’s stock after buying an additional 74 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in Alphabet were worth $106,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB acquired a new stake in Alphabet in the first quarter valued at $1,378,708,000. Capital International Investors grew its holdings in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 232,052 shares of company stock worth $38,086,723. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $170.68 on Tuesday. The stock’s 50-day moving average is $163.87 and its 200-day moving average is $170.72. The company has a market cap of $2.10 trillion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.