Massachusetts Financial Services Co. MA Sells 37,193 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,788,766 shares of the information services provider’s stock after selling 37,193 shares during the period. Alphabet makes up approximately 2.3% of Massachusetts Financial Services Co. MA’s investment portfolio, making the stock its 2nd largest holding. Massachusetts Financial Services Co. MA’s holdings in Alphabet were worth $7,756,535,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Alphabet during the fourth quarter valued at about $14,477,662,000. Aaron Wealth Advisors LLC boosted its stake in Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares in the last quarter. Fundsmith LLP acquired a new position in shares of Alphabet in the 4th quarter valued at $1,214,138,000. Invesco Ltd. boosted its position in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares during the period. Finally, Swiss National Bank boosted its position in shares of Alphabet by 13.9% in the 1st quarter. Swiss National Bank now owns 1,302,890 shares of the information services provider’s stock valued at $3,623,793,000 after purchasing an additional 158,500 shares during the period. 41.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GOOGL shares. UBS Group decreased their price target on Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Stifel Nicolaus set a $155.00 price target on Alphabet in a research report on Monday, July 18th. Citigroup decreased their price target on Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Mizuho decreased their price target on Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Alphabet from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.36.

Insiders Place Their Bets

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In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The disclosure for this sale can be found here. Insiders have sold a total of 42,831 shares of company stock worth $15,706,796 in the last 90 days. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $110.34 on Monday. The business’s 50 day moving average is $156.84 and its 200-day moving average is $136.03. Alphabet Inc. has a 1-year low of $101.88 and a 1-year high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.45 trillion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The company had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same quarter last year, the business earned $27.26 EPS. Equities research analysts predict that Alphabet Inc. will post 5.2 earnings per share for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.