Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Eastern Bank

Eastern Bank lessened its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 866,308 shares of the information services provider’s stock after selling 6,582 shares during the period. Alphabet comprises approximately 3.0% of Eastern Bank’s portfolio, making the stock its 4th largest position. Eastern Bank’s holdings in Alphabet were worth $163,992,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LMR Partners LLP acquired a new position in shares of Alphabet in the third quarter worth $32,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter worth $41,000. Quarry LP acquired a new position in shares of Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet in the third quarter worth $66,000. Finally, Mendota Financial Group LLC grew its stake in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.5 %

Shares of GOOGL opened at $191.01 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average is $183.05 and its two-hundred day moving average is $172.99. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 25.33, a PEG ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business earned $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. Wedbush boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. KeyCorp boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley boosted their target price on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Get Our Latest Report on Alphabet

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,053 shares of company stock worth $27,559,701 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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