NORTHSTAR ASSET MANAGEMENT Co Sells 975 Shares of Alphabet Inc. $GOOGL

NORTHSTAR ASSET MANAGEMENT Co lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,735 shares of the information services provider’s stock after selling 975 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co’s holdings in Alphabet were worth $834,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. Gimbal Financial increased its stake in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the last quarter. Missouri Trust & Investment Co increased its stake in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its stake in Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC increased its stake in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after acquiring an additional 59 shares during the last quarter. Finally, Financial Council LLC increased its stake in Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $277.54 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $246.91 and a 200-day moving average of $202.13. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59.

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

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GOOGL shares. Roth Capital increased their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Rosenblatt Securities increased their target price on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Needham & Company LLC upped their price target on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, China Renaissance upped their price target on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $303.09.

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.