Harbour Trust & Investment Management Co Makes New $3.82 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Harbour Trust & Investment Management Co purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,315 shares of the information services provider’s stock, valued at approximately $3,816,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Live Oak Investment Partners purchased a new position in shares of Alphabet in the fourth quarter valued at $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter valued at $38,000. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 228,839 shares of company stock worth $32,835,757 over the last quarter. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $154.40 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50-day moving average price of $145.76 and a 200 day moving average price of $140.19. The company has a market capitalization of $1.92 trillion, a P/E ratio of 26.62, a PEG ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Wolfe Research raised their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Redburn Atlantic raised their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Mizuho raised their price target on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $156.64.

Alphabet Company 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.