Retirement Planning Co of New England Inc. Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Retirement Planning Co of New England Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,509 shares of the information services provider’s stock after selling 7,240 shares during the quarter. Alphabet makes up approximately 1.4% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its 12th biggest position. Retirement Planning Co of New England Inc.’s holdings in Alphabet were worth $2,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at approximately $4,101,040,000. International Assets Investment Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $11,600,970,000. Cerity Partners LLC grew its holdings in Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after acquiring an additional 2,222,950 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 50.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock valued at $596,572,000 after acquiring an additional 1,308,691 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,488 shares of company stock worth $25,217,405. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.3 %

NASDAQ GOOG traded down $0.52 during trading hours on Friday, reaching $186.78. 14,449,113 shares of the company’s stock traded hands, compared to its average volume of 15,160,819. Alphabet Inc. has a 52-week low of $118.68 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50-day simple moving average of $179.19 and a 200 day simple moving average of $159.06. The firm has a market cap of $2.31 trillion, a PE ratio of 28.65, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $174.38.

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.