Harbour Trust & Investment Management Co Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,110 shares of the information services provider’s stock after purchasing an additional 2,737 shares during the quarter. Alphabet accounts for approximately 3.0% of Harbour Trust & Investment Management Co’s portfolio, making the stock its 4th largest position. Harbour Trust & Investment Management Co’s holdings in Alphabet were worth $26,267,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GOOG. Towerpoint Wealth LLC lifted its holdings in shares of Alphabet by 44.3% in the first quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock valued at $1,032,000 after purchasing an additional 2,079 shares in the last quarter. Cypress Wealth Services LLC lifted its stake in Alphabet by 3.7% during the 1st quarter. Cypress Wealth Services LLC now owns 16,402 shares of the information services provider’s stock valued at $2,497,000 after acquiring an additional 586 shares in the last quarter. Hengehold Capital Management LLC boosted its holdings in Alphabet by 17.7% during the 1st quarter. Hengehold Capital Management LLC now owns 5,019 shares of the information services provider’s stock worth $764,000 after acquiring an additional 753 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Alphabet by 46.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after acquiring an additional 6,831 shares in the last quarter. Finally, Courier Capital LLC raised its holdings in shares of Alphabet by 0.7% in the first quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock valued at $14,084,000 after purchasing an additional 636 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. UBS Group cut their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Finally, Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of GOOG opened at $166.99 on Friday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The business has a 50-day moving average of $163.31 and a 200 day moving average of $169.88. The firm has a market cap of $2.06 trillion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

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

About Alphabet

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.