Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Harfst & Associates Inc.

Harfst & Associates Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,643 shares of the information services provider’s stock after selling 751 shares during the period. Alphabet comprises approximately 0.8% of Harfst & Associates Inc.’s portfolio, making the stock its 15th biggest holding. Harfst & Associates Inc.’s holdings in Alphabet were worth $3,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Norway Savings Bank raised its holdings in Alphabet by 5.6% during the first quarter. Norway Savings Bank now owns 31,840 shares of the information services provider’s stock valued at $4,806,000 after buying an additional 1,682 shares in the last quarter. New England Research & Management Inc. increased its holdings in shares of Alphabet by 7.3% during the 1st quarter. New England Research & Management Inc. now owns 39,672 shares of the information services provider’s stock valued at $5,988,000 after acquiring an additional 2,711 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its stake in shares of Alphabet by 9.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 11,487 shares of the information services provider’s stock valued at $1,779,000 after acquiring an additional 1,029 shares in the last quarter. KRS Capital Management LLC lifted its holdings in Alphabet by 2.6% in the 1st quarter. KRS Capital Management LLC now owns 11,640 shares of the information services provider’s stock worth $1,757,000 after purchasing an additional 300 shares during the last quarter. Finally, Webster Bank N. A. boosted its position in Alphabet by 1.6% during the first quarter. Webster Bank N. A. now owns 143,839 shares of the information services provider’s stock worth $21,710,000 after purchasing an additional 2,208 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $169.68 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.10 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a twelve month low of $122.68 and a twelve month high of $191.75. The business has a fifty day moving average of $162.00 and a 200-day moving average of $168.74.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. UBS Group raised their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets lowered their price objective on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated 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 approximately $4,421,948.46. 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. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.