Alphabet Inc (NASDAQ:GOOG) Stake Lessened by Private Harbour Investment Management & Counsel LLC

Private Harbour Investment Management & Counsel LLC lowered its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,738 shares of the information services provider’s stock after selling 99 shares during the quarter. Alphabet makes up about 2.0% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 11th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Alphabet were worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Perennial Advisors LLC increased its position in Alphabet by 8.7% during the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after buying an additional 260 shares in the last quarter. One Capital Management LLC boosted its stake in shares of Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after buying an additional 154 shares during the last quarter. Doyle Wealth Management boosted its stake in shares of Alphabet by 6.7% in the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the last quarter. Northeast Investment Management boosted its stake in shares of Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after buying an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC boosted its stake in shares of Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 34.74% of the company’s stock.

In other news, Director L John Doerr sold 12,236 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at approximately $3,560,171.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the sale, the chief executive officer now owns 949 shares of the company’s stock, valued at approximately $968,634.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,396 shares of company stock valued at $34,231,541. 13.92% of the stock is owned by insiders.

Alphabet Inc (NASDAQ GOOG) opened at $1,005.15 on Wednesday. The firm has a market cap of $693,883.88, a PE ratio of 33.43 and a beta of 0.93. Alphabet Inc has a 12 month low of $755.80 and a 12 month high of $1,062.38. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. Alphabet’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $9.06 EPS.

Several research firms recently weighed in on GOOG. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,084.59 target price on the stock in a research report on Wednesday, November 29th. Piper Jaffray Companies reiterated an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Wednesday, August 9th. BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. MKM Partners restated a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, UBS restated a “buy” rating on shares of Alphabet in a research report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-nine have assigned a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,047.96.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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