Harrington Investments INC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)


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Harrington Investments INC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,937 shares of the information services provider’s stock after selling 18 shares during the quarter. Alphabet makes up approximately 2.3% of Harrington Investments INC’s portfolio, making the stock its 11th biggest position. Harrington Investments INC’s holdings in Alphabet were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its stake in Alphabet by 2,895.9% in the third quarter. Assenagon Asset Management S.A. now owns 232,781 shares of the information services provider’s stock valued at $342,095,000 after acquiring an additional 225,011 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Alphabet by 62.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 410,254 shares of the information services provider’s stock valued at $602,909,000 after purchasing an additional 157,323 shares during the last quarter. SB Management Ltd bought a new position in Alphabet during the third quarter valued at $205,740,000. Natixis raised its stake in shares of Alphabet by 186.2% in the third quarter. Natixis now owns 140,579 shares of the information services provider’s stock valued at $206,595,000 after buying an additional 91,458 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Alphabet by 40.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 234,410 shares of the information services provider’s stock valued at $236,617,000 after buying an additional 67,275 shares during the last quarter. Institutional investors own 29.94% of the company’s stock.

NASDAQ:GOOG traded up $7.85 during mid-day trading on Wednesday, reaching $1,754.40. 1,089,983 shares of the company’s stock traded hands, compared to its average volume of 1,702,810. The company has a 50 day moving average price of $1,770.85 and a 200-day moving average price of $1,611.76. The firm has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.41 and a quick ratio of 3.39. Alphabet Inc. has a 12-month low of $1,013.54 and a 12-month high of $1,847.20.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.35 by $5.05. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm had revenue of $46.17 billion for the quarter, compared to analyst estimates of $42.84 billion. During the same period last year, the company earned $10.12 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 51.54 EPS for the current year.

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on Alphabet from $1,800.00 to $1,900.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Raymond James lifted their target price on shares of Alphabet from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research note on Friday, October 30th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Saturday, December 12th. Finally, Wedbush reissued an “outperform” rating and set a $1,850.00 target price (up previously from $1,700.00) on shares of Alphabet in a report on Friday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,843.00.

In other news, SVP Philipp Schindler sold 1,385 shares of the company’s stock in a transaction dated Wednesday, December 30th. The shares were sold at an average price of $1,762.01, for a total value of $2,440,383.85. Following the sale, the senior vice president now directly owns 19,950 shares of the company’s stock, valued at approximately $35,152,099.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 30 shares of the company’s stock in a transaction dated Tuesday, December 15th. The stock was sold at an average price of $1,764.42, for a total transaction of $52,932.60. Following the completion of the sale, the chief accounting officer now owns 846 shares in the company, valued at approximately $1,492,699.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,564 shares of company stock worth $2,756,038. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: Gap Down Stocks

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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