Alphabet Inc. $GOOG Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,225 shares of the information services provider’s stock after selling 2,610 shares during the quarter. Alphabet makes up about 0.7% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $15,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC grew its position in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth approximately $2,622,943,000. Vanguard Group Inc. grew its position in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new position in Alphabet during the first quarter worth $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. 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 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOG stock opened at $281.82 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The stock’s fifty day moving average is $244.59 and its two-hundred day moving average is $200.68.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday. Mizuho set a $325.00 price objective on shares of Alphabet in a research note on Thursday. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Scotiabank set a $336.00 price objective on shares of Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.