Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Harbour Investment Management LLC

Harbour Investment Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 18,705 shares of the information services provider’s stock after buying an additional 65 shares during the quarter. Alphabet accounts for approximately 1.4% of Harbour Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Harbour Investment Management LLC’s holdings in Alphabet were worth $3,127,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after acquiring an additional 15,848 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alphabet by 50.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock valued at $596,572,000 after purchasing an additional 1,308,691 shares during the period. Oak Ridge Investments LLC boosted its position in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares during the period. TKG Advisors LLC grew its stake in Alphabet by 12.3% during the 1st quarter. TKG Advisors LLC now owns 32,237 shares of the information services provider’s stock worth $4,908,000 after buying an additional 3,533 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Alphabet by 9.9% during the first quarter. Blue Trust Inc. now owns 19,005 shares of the information services provider’s stock worth $2,894,000 after buying an additional 1,712 shares during the period. 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 research analyst reports. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,244 shares of company stock valued at $37,776,954 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $172.65 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a one year low of $128.11 and a one year high of $193.31. The company has a market cap of $2.13 trillion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The business has a fifty day moving average of $163.81 and a two-hundred day moving average of $170.63.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.