Alphabet Inc. $GOOGL Holdings Reduced by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 421,416 shares of the information services provider’s stock after selling 24,155 shares during the period. Alphabet makes up about 3.3% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Birch Hill Investment Advisors LLC’s holdings in Alphabet were worth $74,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.1%

Shares of Alphabet stock opened at $281.31 on Friday. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. The business has a 50-day moving average price of $244.00 and a 200-day moving average price of $199.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOOGL shares. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 target price (up from $290.00) on shares of Alphabet in a report on Thursday. Guggenheim raised their target price on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI raised their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.20.

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.