Bar Harbor Wealth Management Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bar Harbor Wealth Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,863.7% during the third quarter, Holdings Channel reports. The firm owned 104,588 shares of the information services provider’s stock after buying an additional 99,262 shares during the quarter. Bar Harbor Wealth Management’s holdings in Alphabet were worth $10,004,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new stake in Alphabet in the third quarter worth $55,305,000. Griffin Asset Management Inc. increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Farmers Trust Co. raised its holdings in Alphabet by 2.2% in the second quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after buying an additional 129 shares during the last quarter. Ziegler Capital Management LLC lifted its stake in shares of Alphabet by 62.3% in the second quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after buying an additional 12,774 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after buying an additional 6,137 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the sale, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $92.12 on Monday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. The business has a 50-day moving average price of $92.82 and a 200-day moving average price of $102.19. The firm has a market cap of $1.19 trillion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results 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 business had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter in the previous year, the company earned $1.40 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Mizuho lowered their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Susquehanna reduced their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, October 26th. Royal Bank of Canada dropped their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Wells Fargo & Company decreased their price objective on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Alphabet 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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