Alphabet Inc. $GOOGL Stock Holdings Increased by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,170 shares of the information services provider’s stock after purchasing an additional 1,508 shares during the quarter. Alphabet accounts for 2.6% of Granite Harbor Advisors Inc.’s holdings, making the stock its 11th biggest position. Granite Harbor Advisors Inc.’s holdings in Alphabet were worth $5,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mystic Asset Management Inc. lifted its position in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC boosted its stake in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC boosted its stake in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC boosted its stake in Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $281.31 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The firm has a 50 day moving average of $244.00 and a two-hundred day moving average of $200.31.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 222,330 shares of company stock valued at $51,167,625. 11.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on GOOGL shares. Citigroup reaffirmed a “buy” rating and issued a $343.00 price objective (up previously from $280.00) on shares of Alphabet in a research note on Thursday. Evercore ISI raised their price objective on shares of Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday. Moffett Nathanson raised their price objective on shares of Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, New Street Research upped their price objective on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

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.