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

Bar Harbor Wealth Management decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,227 shares of the information services provider’s stock after selling 283 shares during the quarter. Bar Harbor Wealth Management’s holdings in Alphabet were worth $4,886,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Heirloom Wealth Management boosted its position in Alphabet by 1.2% in the 3rd quarter. Heirloom Wealth Management now owns 128,111 shares of the information services provider’s stock valued at $21,419,000 after buying an additional 1,517 shares during the last quarter. TruWealth Advisors LLC lifted its stake in shares of Alphabet by 1.2% in the third quarter. TruWealth Advisors LLC now owns 201,572 shares of the information services provider’s stock worth $33,700,000 after acquiring an additional 2,435 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Alphabet by 0.5% in the third quarter. Ellsworth Advisors LLC now owns 26,456 shares of the information services provider’s stock valued at $4,423,000 after purchasing an additional 120 shares during the last quarter. Vista Investment Partners LLC grew its stake in Alphabet by 4.2% during the 3rd quarter. Vista Investment Partners LLC now owns 2,828 shares of the information services provider’s stock valued at $473,000 after purchasing an additional 113 shares in the last quarter. Finally, Drake & Associates LLC increased its holdings in Alphabet by 9.4% during the 3rd quarter. Drake & Associates LLC now owns 4,511 shares of the information services provider’s stock worth $754,000 after purchasing an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. UBS Group decreased their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Finally, Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Up 0.3 %

NASDAQ:GOOG opened at $165.05 on Friday. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50 day simple moving average of $163.18 and a 200 day simple moving average of $169.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

Alphabet 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.