NORTHSTAR ASSET MANAGEMENT Co Lowers Position in Alphabet Inc. $GOOGL

NORTHSTAR ASSET MANAGEMENT Co cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 17.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CNB Bank increased its stake in shares of Alphabet by 14.4% during the second quarter. CNB Bank now owns 26,736 shares of the information services provider’s stock valued at $4,712,000 after purchasing an additional 3,363 shares in the last quarter. PKO Investment Management Joint Stock Co increased its stake in shares of Alphabet by 10.3% during the second quarter. PKO Investment Management Joint Stock Co now owns 160,000 shares of the information services provider’s stock valued at $28,197,000 after purchasing an additional 15,000 shares in the last quarter. Sage Mountain Advisors LLC increased its stake in shares of Alphabet by 9.0% during the second quarter. Sage Mountain Advisors LLC now owns 49,205 shares of the information services provider’s stock valued at $8,671,000 after purchasing an additional 4,043 shares in the last quarter. DDD Partners LLC increased its stake in shares of Alphabet by 3.1% during the second quarter. DDD Partners LLC now owns 3,802 shares of the information services provider’s stock valued at $670,000 after purchasing an additional 116 shares in the last quarter. Finally, Moment Partners LLC increased its stake in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. BNP Paribas Exane raised their price target on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research report on Monday. Finally, China Renaissance raised 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 investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $303.09.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 190,896 shares of company stock valued at $45,092,175 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 2.2%

Shares of GOOGL stock opened at $277.54 on Wednesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. 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’s 50 day moving average is $246.91 and its 200 day moving average is $202.13. The stock has a market capitalization 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 (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet 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.