Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,010 shares of the information services provider’s stock after acquiring an additional 130 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Alphabet were worth $6,924,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Nebula Research & Development LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $787,000. New Hampshire Trust lifted its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP lifted its position in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Alphabet by 11.5% in the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after acquiring an additional 200,891 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.7 %

Shares of GOOGL stock opened at $163.95 on Monday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50 day simple moving average of $162.83 and a two-hundred day simple moving average of $166.68.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the business posted $1.44 earnings per share. On average, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now owns 27,824 shares in the company, valued at approximately $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold a total of 177,605 shares of company stock valued at $29,277,931 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Mizuho increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Citigroup upped their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.35.

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.