Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Trimmed by Eastern Bank

Eastern Bank lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 866,308 shares of the information services provider’s stock after selling 6,582 shares during the period. Alphabet makes up approximately 3.0% of Eastern Bank’s portfolio, making the stock its 4th biggest holding. Eastern Bank’s holdings in Alphabet were worth $163,992,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.5 %

Alphabet stock opened at $191.01 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $183.05 and a two-hundred day moving average price of $172.99. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during 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 posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 153,053 shares of company stock valued at $27,559,701. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Morgan Stanley raised their price target on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Monday. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. 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’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Alphabet 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.