Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 172,961 shares of the information services provider’s stock after acquiring an additional 1,281 shares during the period. Alphabet accounts for about 2.9% of Harbor Investment Advisory LLC’s holdings, making the stock its 5th biggest position. Harbor Investment Advisory LLC’s holdings in Alphabet were worth $32,742,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC boosted its holdings in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the period. Landscape Capital Management L.L.C. lifted its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc increased its position in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. raised its stake in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $200.21 on Friday. The firm has a market capitalization 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. The firm has a 50-day moving average price of $185.91 and a 200 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.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GOOGL shares. Wolfe Research upped their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, Roth Mkm increased their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.44.

Alphabet 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.