Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Bar Harbor Wealth Management

Bar Harbor Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,770.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 32,063 shares of the information services provider’s stock after purchasing an additional 30,349 shares during the period. Bar Harbor Wealth Management’s holdings in Alphabet were worth $3,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. OLD Second National Bank of Aurora lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Carolina Wealth Advisors LLC lifted its holdings in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Schubert & Co lifted its holdings in Alphabet by 1,192.9% in the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 334 shares during the period. Corsicana & Co. lifted its holdings in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the period. Finally, Savior LLC lifted its holdings in Alphabet by 1,515.4% in the third quarter. Savior LLC now owns 420 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 394 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Societe Generale reduced their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. The Goldman Sachs Group set a $135.00 target price on Alphabet in a report on Friday, November 18th. JPMorgan Chase & Co. set a $115.00 target price on Alphabet in a report on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price target on Alphabet in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, October 21st. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $141.88.

Alphabet Stock Down 0.4 %

GOOG opened at $91.91 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08. The business has a 50-day moving average of $93.11 and a two-hundred day moving average of $102.96. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The firm had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

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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.