Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lessened by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,351 shares of the information services provider’s stock after selling 9,356 shares during the period. Alphabet accounts for approximately 3.6% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 9th largest holding. Birch Hill Investment Advisors LLC’s holdings in Alphabet were worth $77,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its position in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOGL shares. Evercore ISI cut their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $164.07 on Tuesday. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm has a fifty day simple moving average of $161.80 and a 200-day simple moving average of $168.35. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.