Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management increased its position in Alphabet Inc. (NASDAQ:GOOG) by 237.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,201 shares of the information services provider’s stock after purchasing an additional 4,361 shares during the period. Massachusetts Wealth Management’s holdings in Alphabet were worth $1,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL boosted its holdings in Alphabet by 16.9% in the third quarter. Strategic Investment Solutions Inc. IL now owns 3,681 shares of the information services provider’s stock worth $616,000 after purchasing an additional 532 shares during the period. Cullinan Associates Inc. lifted its position in shares of Alphabet by 13.0% in the 3rd quarter. Cullinan Associates Inc. now owns 127,161 shares of the information services provider’s stock worth $21,083,000 after buying an additional 14,640 shares during the last quarter. Tandem Capital Management Corp ADV boosted its holdings in shares of Alphabet by 1.8% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 21,024 shares of the information services provider’s stock valued at $3,201,000 after buying an additional 370 shares during the period. Ballentine Partners LLC grew its position in shares of Alphabet by 4.7% during the 3rd quarter. Ballentine Partners LLC now owns 105,684 shares of the information services provider’s stock valued at $17,669,000 after buying an additional 4,754 shares during the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new stake in Alphabet during the third quarter worth about $1,375,000. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group dropped their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. 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 three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $166.99 on Friday. The firm has a market capitalization of $2.06 trillion, a PE ratio of 23.96, a P/E/G ratio of 1.27 and a beta of 1.04. 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 has a 50-day moving average price of $163.35 and a 200 day moving average price of $170.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

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.