Hartford Investment Management Co. Sells 10,886 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hartford Investment Management Co. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 302,209 shares of the information services provider’s stock after selling 10,886 shares during the period. Alphabet comprises approximately 1.7% of Hartford Investment Management Co.’s holdings, making the stock its 9th largest position. Hartford Investment Management Co.’s holdings in Alphabet were worth $50,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter worth about $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet in the second quarter valued at about $44,000. Finally, Hoese & Co LLP lifted its position in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $164.48 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The firm has a 50 day simple moving average of $163.28 and a 200-day simple moving average of $169.92. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction 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 completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer cut their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.