Flagship Harbor Advisors LLC Buys Shares of 88,167 Alphabet Inc. (NASDAQ:GOOG)

Flagship Harbor Advisors LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 88,167 shares of the information services provider’s stock, valued at approximately $14,741,000. Alphabet comprises approximately 0.8% of Flagship Harbor Advisors LLC’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Annex Advisory Services LLC lifted its stake in shares of Alphabet by 17.2% in the first quarter. Annex Advisory Services LLC now owns 7,932 shares of the information services provider’s stock worth $1,208,000 after buying an additional 1,165 shares during the last quarter. West Coast Financial LLC increased its position in Alphabet by 5.2% during the first quarter. West Coast Financial LLC now owns 12,483 shares of the information services provider’s stock worth $1,901,000 after acquiring an additional 612 shares during the period. Fermata Advisors LLC increased its position in Alphabet by 1.2% during the first quarter. Fermata Advisors LLC now owns 6,615 shares of the information services provider’s stock worth $1,007,000 after acquiring an additional 80 shares during the period. Wallace Advisory Group LLC increased its position in Alphabet by 2.2% during the first quarter. Wallace Advisory Group LLC now owns 10,180 shares of the information services provider’s stock worth $1,435,000 after acquiring an additional 224 shares during the period. Finally, Affinity Capital Advisors LLC increased its position in Alphabet by 0.8% during the first quarter. Affinity Capital Advisors LLC now owns 15,053 shares of the information services provider’s stock worth $2,292,000 after acquiring an additional 121 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target on the stock. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Up 0.6 %

GOOG opened at $166.82 on Wednesday. The firm’s 50-day simple moving average is $163.23 and its 200-day simple moving average is $169.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.21 and a beta of 1.04.

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

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last 90 days. Corporate 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.