Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,209 shares of the information services provider’s stock after selling 10,886 shares during the quarter. Alphabet comprises 1.7% of Hartford Investment Management Co.’s investment portfolio, making the stock its 9th biggest position. Hartford Investment Management Co.’s holdings in Alphabet were worth $50,526,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GOOG. First Bancorp Inc ME lifted its position in Alphabet by 1.4% in the first quarter. First Bancorp Inc ME now owns 5,743 shares of the information services provider’s stock valued at $874,000 after buying an additional 80 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Alphabet by 17.4% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,035 shares of the information services provider’s stock worth $3,947,000 after acquiring an additional 3,714 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Alphabet by 23.7% during the 1st quarter. Sound Income Strategies LLC now owns 7,900 shares of the information services provider’s stock worth $1,203,000 after purchasing an additional 1,515 shares during the period. Mcdonald Partners LLC increased its holdings in Alphabet by 0.5% in the 1st quarter. Mcdonald Partners LLC now owns 24,672 shares of the information services provider’s stock valued at $3,757,000 after purchasing an additional 130 shares during the last quarter. Finally, IAM Advisory LLC increased its holdings in Alphabet by 4.2% in the 1st quarter. IAM Advisory LLC now owns 3,893 shares of the information services provider’s stock valued at $593,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 1.4 %

Shares of Alphabet stock opened at $164.48 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $163.28 and a 200-day simple moving average of $169.92. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research started coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Finally, TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.90.

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.