Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Royal Harbor Partners LLC

Royal Harbor Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,657 shares of the information services provider’s stock after selling 207 shares during the quarter. Alphabet comprises 1.3% of Royal Harbor Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Royal Harbor Partners LLC’s holdings in Alphabet were worth $2,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. RWQ Financial Management Services Inc. increased its holdings in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management raised its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the last quarter. Robbins Farley boosted its position in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC grew its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the last quarter. Finally, Colton Groome Financial Advisors LLC raised its stake in shares of Alphabet by 3.8% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $174.99 on Friday. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $178.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s 50 day simple moving average is $160.81 and its 200-day simple moving average is $146.70. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOGL. TD Cowen boosted their target price on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Susquehanna upped their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Royal Bank of Canada increased their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.57.

Insiders Place Their Bets

In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,935 shares of company stock valued at $31,178,987. 11.55% of the stock is owned by company insiders.

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.