Harbor Investment Advisory LLC Acquires 3,138 Shares of Alphabet Inc. $GOOGL

Harbor Investment Advisory LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,030 shares of the information services provider’s stock after purchasing an additional 3,138 shares during the period. Alphabet comprises 2.5% of Harbor Investment Advisory LLC’s holdings, making the stock its 6th largest position. Harbor Investment Advisory LLC’s holdings in Alphabet were worth $30,317,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. First National Bank Sioux Falls grew its holdings in Alphabet by 2.6% in the second quarter. First National Bank Sioux Falls now owns 12,321 shares of the information services provider’s stock valued at $2,171,000 after purchasing an additional 314 shares during the period. Kera Capital Partners Inc. grew its holdings in Alphabet by 4.9% in the second quarter. Kera Capital Partners Inc. now owns 4,187 shares of the information services provider’s stock valued at $738,000 after purchasing an additional 195 shares during the period. Private Client Services LLC boosted its stake in shares of Alphabet by 14.5% in the second quarter. Private Client Services LLC now owns 6,907 shares of the information services provider’s stock worth $1,217,000 after acquiring an additional 877 shares during the last quarter. AdviceOne Advisory Services LLC boosted its stake in shares of Alphabet by 13.7% in the first quarter. AdviceOne Advisory Services LLC now owns 1,465 shares of the information services provider’s stock worth $226,000 after acquiring an additional 177 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Alphabet in the first quarter worth approximately $36,948,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $240.80 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The company has a market cap of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50 day moving average price is $201.89 and its 200 day moving average price is $177.48.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America lifted their price target on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Wedbush lifted their price target on Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.44.

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.