Harvey Investment Co. LLC Acquires 3,085 Shares of Alphabet Inc. (NASDAQ:GOOG)

Harvey Investment Co. LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,221 shares of the information services provider’s stock after acquiring an additional 3,085 shares during the quarter. Alphabet comprises 2.0% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 18th largest position. Harvey Investment Co. LLC’s holdings in Alphabet were worth $18,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Towerpoint Wealth LLC increased its position in shares of Alphabet by 44.3% during the 1st quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock valued at $1,032,000 after purchasing an additional 2,079 shares during the last quarter. Cypress Wealth Services LLC grew its position in Alphabet by 3.7% during the first quarter. Cypress Wealth Services LLC now owns 16,402 shares of the information services provider’s stock valued at $2,497,000 after acquiring an additional 586 shares during the last quarter. Hengehold Capital Management LLC raised its stake in shares of Alphabet by 17.7% during the first quarter. Hengehold Capital Management LLC now owns 5,019 shares of the information services provider’s stock worth $764,000 after acquiring an additional 753 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Alphabet by 46.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after acquiring an additional 6,831 shares during the last quarter. Finally, Courier Capital LLC boosted its stake in shares of Alphabet by 0.7% in the 1st quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock valued at $14,084,000 after purchasing an additional 636 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, UBS Group cut their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Price Performance

GOOG stock opened at $166.99 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a 50-day moving average of $163.31 and a 200 day moving average of $169.88. The company has a market cap of $2.06 trillion, a P/E ratio of 25.63, a PEG ratio of 1.21 and a beta of 1.04.

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now 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 filing with the SEC, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, 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 quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 12.99% of the company’s stock.

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.