Harbour Investment Management LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Harbour Investment Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,705 shares of the information services provider’s stock after purchasing an additional 65 shares during the period. Alphabet accounts for about 1.4% of Harbour Investment Management LLC’s holdings, making the stock its 24th biggest position. Harbour Investment Management LLC’s holdings in Alphabet were worth $3,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Twelve Points Wealth Management LLC lifted its position in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC lifted its holdings in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV grew its holdings in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 owns 312,210 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 230,244 shares of company stock worth $37,776,954. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.0 %

NASDAQ GOOG opened at $172.65 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The stock has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a PEG ratio of 1.24 and a beta of 1.04. The firm’s 50-day moving average is $163.81 and its two-hundred day moving average is $170.63. Alphabet Inc. has a 12 month low of $128.11 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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. 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 analyst estimates of $86.39 billion. During the same period in the prior year, the business posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Citigroup increased their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.