Harbour Trust & Investment Management Co Has $28.41 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Harbour Trust & Investment Management Co increased its stake in Alphabet Inc. by 1.5%, owning shares valued at approximately $28.41 million as of its latest SEC filing.
• CEO Sundar Pichai sold 32,500 shares at an average price of $249.50, reducing his position by 1.34%, while overall insider sales reached $55.11 million in the last quarter.
• Alphabet has received mixed analyst ratings, with six analysts giving a Strong Buy rating and a current average price target of $244.68.

Harbour Trust & Investment Management Co lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,129 shares of the information services provider's stock after acquiring an additional 2,309 shares during the period. Alphabet makes up about 3.1% of Harbour Trust & Investment Management Co's holdings, making the stock its 3rd largest holding. Harbour Trust & Investment Management Co's holdings in Alphabet were worth $28,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC raised its position in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter worth $26,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter worth $32,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock worth $55,110,740 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOG. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, October 8th. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.68.

Alphabet Stock Up 0.8%

GOOG opened at $253.79 on Friday. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.70 and a beta of 1.00. The business's 50-day moving average price is $232.18 and its 200-day moving average price is $192.73. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Alphabet Company 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.

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