Harbour Investment Management LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Harbour Investment Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106 shares of the information services provider’s stock after selling 10 shares during the period. Harbour Investment Management LLC’s holdings in Alphabet were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Morling Financial Advisors LLC bought a new position in Alphabet in the 4th quarter worth approximately $29,000. West Bancorporation Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $29,000. NS Partners Ltd purchased a new stake in shares of Alphabet during the fourth quarter worth $41,000. Schubert & Co acquired a new position in Alphabet during the fourth quarter worth $43,000. Finally, AHL Investment Management Inc. acquired a new position in Alphabet during the fourth quarter worth $46,000. 41.70% of the stock is owned by institutional investors.

GOOGL has been the subject of a number of research reports. Wedbush lowered their price target on shares of Alphabet from $3,800.00 to $3,113.00 in a report on Wednesday, April 27th. Susquehanna boosted their price objective on shares of Alphabet from $3,600.00 to $3,750.00 and gave the company a “positive” rating in a research report on Wednesday, February 2nd. Jefferies Financial Group cut their price target on shares of Alphabet from $3,400.00 to $3,100.00 in a research report on Tuesday. JMP Securities reiterated a “buy” rating and issued a $3,300.00 price target on shares of Alphabet in a research note on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of Alphabet from $3,400.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 2nd. Two investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $3,312.41.

Shares of GOOGL traded up $82.11 during mid-day trading on Friday, hitting $2,237.96. 59,313 shares of the company’s stock were exchanged, compared to its average volume of 1,954,289. The company has a market cap of $1.47 trillion, a PE ratio of 19.96, a P/E/G ratio of 1.03 and a beta of 1.13. Alphabet Inc. has a 52 week low of $2,037.69 and a 52 week high of $3,030.93. The company has a 50-day simple moving average of $2,495.09 and a 200 day simple moving average of $2,687.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.

Alphabet’s stock is going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the company posted $26.29 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 112.62 earnings per share for the current year.

In other Alphabet news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of Alphabet stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brin Sergey sold 2,639 shares of Alphabet stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the completion of the transaction, the director now directly owns 18,599,842 shares in the company, valued at $48,959,992,099.76. The disclosure for this sale can be found here. Insiders have sold a total of 550,261 shares of company stock valued at $21,637,779 in the last ninety days. Insiders own 13.20% of the company’s stock.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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