Bar Harbor Wealth Management Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Bar Harbor Wealth Management raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,770.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,063 shares of the information services provider’s stock after buying an additional 30,349 shares during the quarter. Bar Harbor Wealth Management’s holdings in Alphabet were worth $3,083,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GOOG. Totem Point Management LLC grew its holdings in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F grew its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new stake in shares of Alphabet during the first quarter worth $2,564,000. Hall Capital Management Co. Inc. grew its holdings in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its holdings in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOOG shares. Raymond James dropped their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Cowen dropped their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a report on Friday, November 18th. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Monday. Finally, Cowen dropped their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.88.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.4 %

Shares of GOOG opened at $91.91 on Friday. The stock has a market capitalization of $1.19 trillion, a PE ratio of 18.25, a P/E/G ratio of 1.54 and a beta of 1.08. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company’s 50-day simple moving average is $93.11 and its 200-day simple moving average is $102.96.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

About Alphabet

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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.