Harbour Investments Inc. Purchases 11,599 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Harbour Investments Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 21.5% in the fourth quarter, HoldingsChannel reports. The fund owned 65,529 shares of the information services provider’s stock after purchasing an additional 11,599 shares during the quarter. Harbour Investments Inc.’s holdings in Alphabet were worth $12,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC lifted its holdings in shares of Alphabet by 8.4% in the 4th quarter. Corient Private Wealth LLC now owns 5,428,628 shares of the information services provider’s stock worth $1,022,040,000 after purchasing an additional 420,575 shares in the last quarter. CV Advisors LLC raised its holdings in Alphabet by 33.1% during the fourth quarter. CV Advisors LLC now owns 72,847 shares of the information services provider’s stock worth $13,601,000 after buying an additional 18,133 shares during the last quarter. Greenwich Wealth Management LLC lifted its stake in shares of Alphabet by 16.3% in the fourth quarter. Greenwich Wealth Management LLC now owns 8,334 shares of the information services provider’s stock valued at $1,578,000 after buying an additional 1,167 shares in the last quarter. Tumwater Wealth Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $473,000. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Alphabet by 6.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 468,443 shares of the information services provider’s stock worth $88,676,000 after acquiring an additional 29,303 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush raised their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Stock Performance

Alphabet stock opened at $162.24 on Friday. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm’s 50 day simple moving average is $180.49 and its 200 day simple moving average is $176.68.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is currently owned by insiders.

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.