Harbour Capital Advisors LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Harbour Capital Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,151 shares of the information services provider’s stock after selling 279 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Alphabet were worth $4,057,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC raised its position in shares of Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after acquiring an additional 452 shares in the last quarter. Spectrum Wealth Advisory Group LLC acquired a new stake in Alphabet during the second quarter worth approximately $218,000. Vance Wealth Inc. lifted its position in shares of Alphabet by 4.0% during the 2nd quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock worth $563,000 after buying an additional 119 shares during the last quarter. Private Wealth Strategies L.L.C. boosted its holdings in shares of Alphabet by 3.4% in the 2nd quarter. Private Wealth Strategies L.L.C. now owns 2,800 shares of the information services provider’s stock valued at $510,000 after buying an additional 93 shares in the last quarter. Finally, Primoris Wealth Advisors LLC grew its position in shares of Alphabet by 36.9% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 6,585 shares of the information services provider’s stock valued at $1,199,000 after buying an additional 1,775 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 0.5 %

GOOGL stock opened at $191.01 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50 day simple moving average is $183.05 and its 200-day simple moving average is $172.99. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The firm has a market capitalization of $2.34 trillion, a PE ratio of 25.33, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the business posted $1.55 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,053 shares of company stock valued at $27,559,701 in the last ninety days. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Loop Capital lifted their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Wedbush increased their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $208.15.

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.