Alphabet Inc. (NASDAQ:GOOGL) is Harbor Investment Advisory LLC’s 5th Largest Position

Harbor Investment Advisory LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,552 shares of the information services provider’s stock after selling 2,841 shares during the quarter. Alphabet makes up about 2.6% of Harbor Investment Advisory LLC’s holdings, making the stock its 5th biggest holding. Harbor Investment Advisory LLC’s holdings in Alphabet were worth $24,243,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Alphabet by 0.3% during the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after purchasing an additional 1,302,104 shares in the last quarter. FMR LLC raised its holdings in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. State Street Corp raised its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Alphabet by 1.3% during the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after purchasing an additional 1,499,107 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reissued a “buy” rating and set a $168.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Mizuho raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Finally, Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $155.47 on Thursday. The firm has a market capitalization of $1.93 trillion, a P/E ratio of 26.81, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The company’s fifty day moving average is $145.95 and its two-hundred day moving average is $140.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the firm earned $1.05 EPS. Analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.