Flagship Harbor Advisors LLC Sells 5,634 Shares of Alphabet Inc. (NASDAQ:GOOG)

Flagship Harbor Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,906 shares of the information services provider’s stock after selling 5,634 shares during the period. Alphabet comprises about 0.8% of Flagship Harbor Advisors LLC’s portfolio, making the stock its 25th largest holding. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $9,303,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Mark Sheptoff Financial Planning LLC lifted its stake in Alphabet by 142.9% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Milestone Wealth LLC lifted its stake in Alphabet by 1,900.0% in the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 361 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new stake in Alphabet in the fourth quarter valued at $48,000. GW&K Investment Management LLC acquired a new stake in Alphabet in the first quarter valued at $50,000. Finally, Schubert & Co lifted its stake in Alphabet by 54.7% in the first quarter. Schubert & Co now owns 498 shares of the information services provider’s stock valued at $52,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 27.13% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG stock opened at $138.96 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.93. The firm has a market cap of $1.75 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.60 and a beta of 1.06. The company’s 50-day moving average price is $130.22 and its two-hundred day moving average price is $118.50.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Oppenheimer raised their target price on shares of Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Wedbush initiated coverage on shares of Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Finally, Susquehanna raised their target price on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $130.94.

Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.