Harbour Trust & Investment Management Co Sells 64 Shares of Alphabet Inc. $GOOGL

Harbour Trust & Investment Management Co lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,011 shares of the information services provider’s stock after selling 64 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Alphabet were worth $4,760,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at approximately $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.7%

NASDAQ:GOOGL opened at $259.92 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day simple moving average is $236.72 and its 200-day simple moving average is $195.25. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The stock has a market capitalization of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. New Street Research upped their price objective on Alphabet from $275.00 to $295.00 in a report on Friday. Rosenblatt Securities increased their target price on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. DA Davidson boosted their target price on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.20.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. 11.64% of the stock is currently owned by corporate insiders.

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.