Private Harbour Investment Management & Counsel LLC Sells 130 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Mar 24th, 2023

Private Harbour Investment Management & Counsel LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,695 shares of the information services provider’s stock after selling 130 shares during the quarter. Alphabet makes up about 2.4% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 14th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Alphabet were worth $2,179,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its holdings in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after purchasing an additional 55,153,448 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 in the last three months. 11.44% of the stock is owned by insiders.

Alphabet Stock Performance

GOOGL stock opened at $105.60 on Friday. The firm has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.40 and a beta of 1.09. The firm has a 50-day simple moving average of $96.20 and a two-hundred day simple moving average of $96.13. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the company posted $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Barclays boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Tigress Financial lowered their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. StockNews.com began coverage on shares of Alphabet in a report on Thursday, March 16th. They issued a “hold” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.83.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.