Harbor Investment Advisory LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,961 shares of the information services provider’s stock after acquiring an additional 1,281 shares during the period. Alphabet accounts for approximately 2.9% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 5th biggest position. Harbor Investment Advisory LLC’s holdings in Alphabet were worth $32,742,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth about $32,000. Denver PWM LLC increased its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the last quarter. Quarry LP acquired a new position in Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GOOGL. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.44.
Alphabet Stock Up 1.1 %
GOOGL opened at $200.21 on Friday. The business has a 50 day moving average price of $185.91 and a two-hundred day moving average price of $173.72. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29. The company has a market cap of $2.45 trillion, a PE ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s payout ratio is currently 10.61%.
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% 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.
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