Flagship Harbor Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,906 shares of the information services provider’s stock after selling 5,634 shares during the quarter. Alphabet makes up approximately 0.8% of Flagship Harbor Advisors LLC’s portfolio, making the stock its 25th largest position. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $9,303,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC grew its position in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the period. Bank of New York Mellon Corp grew its position in Alphabet by 1,807.4% during the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares during the period. Norges Bank bought a new position in Alphabet during the fourth quarter valued at about $3,059,614,000. GQG Partners LLC bought a new position in Alphabet during the first quarter valued at about $2,170,024,000. Finally, Morgan Stanley grew its position in Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after buying an additional 19,612,974 shares during the period. Institutional investors own 27.13% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GOOG shares. Robert W. Baird increased their price target on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Susquehanna increased their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Oppenheimer upped their price objective on shares of Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Finally, Wedbush assumed coverage on shares of Alphabet in a report on Monday, August 21st. They set an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $130.94.
Alphabet Trading Up 0.5 %
Shares of Alphabet stock opened at $138.96 on Tuesday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $139.93. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.60 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $130.22 and its 200-day moving average price is $118.50.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,092 shares of company stock valued at $12,221,941. 12.99% of the stock is currently owned by corporate insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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