Harbour Trust & Investment Management Co Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Harbour Trust & Investment Management Co acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 27,315 shares of the information services provider’s stock, valued at approximately $3,816,000.

A number of other hedge funds have also made changes to their positions in GOOGL. Spreng Capital Management Inc. boosted its stake in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its stake in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC lifted its stake in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its stake in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.3 %

NASDAQ:GOOGL opened at $154.40 on Wednesday. The firm’s fifty day moving average is $145.76 and its 200-day moving average is $140.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The firm has a market cap of $1.92 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the previous year, the company earned $1.05 EPS. Equities analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 228,839 shares of company stock worth $32,835,757 over the last quarter. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Wolfe Research lifted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Wells Fargo & Company reduced their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Finally, Mizuho lifted their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.64.

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.