Heathbridge Capital Management Ltd. Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Heathbridge Capital Management Ltd. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,975 shares of the information services provider's stock after selling 2,075 shares during the quarter. Alphabet makes up 3.3% of Heathbridge Capital Management Ltd.'s holdings, making the stock its 16th biggest position. Heathbridge Capital Management Ltd.'s holdings in Alphabet were worth $8,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in Alphabet in the 4th quarter valued at about $3,119,000. Cypress Capital LLC raised its holdings in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the period. Optivise Advisory Services LLC lifted its position in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Finally, Community Bank N.A. boosted its holdings in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after acquiring an additional 2,790 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock traded up $1.94 during mid-day trading on Thursday, hitting $192.17. 74,740,490 shares of the company traded hands, compared to its average volume of 39,272,972. The stock has a fifty day moving average price of $175.23 and a 200-day moving average price of $173.10. The stock has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOOGL shares. Wells Fargo & Company lifted their price target on Alphabet from $177.00 to $184.00 and gave the stock an "equal weight" rating in a report on Thursday. Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday. Westpark Capital boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday. Rosenblatt Securities increased their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Guggenheim boosted their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $211.32.

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.