Harbor Advisory Corp MA Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Harbor Advisory Corp MA lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,313 shares of the information services provider’s stock after selling 922 shares during the period. Alphabet makes up 3.8% of Harbor Advisory Corp MA’s portfolio, making the stock its 5th biggest position. Harbor Advisory Corp MA’s holdings in Alphabet were worth $11,496,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOGL. Graybill Wealth Management LTD. raised its position in Alphabet by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 63,691 shares of the information services provider’s stock valued at $10,563,000 after buying an additional 392 shares during the last quarter. Kessler Investment Group LLC boosted its stake in Alphabet by 2.5% in the 3rd quarter. Kessler Investment Group LLC now owns 41,475 shares of the information services provider’s stock valued at $6,879,000 after purchasing an additional 1,023 shares during the period. DeDora Capital Inc. boosted its stake in Alphabet by 0.6% in the 3rd quarter. DeDora Capital Inc. now owns 21,752 shares of the information services provider’s stock valued at $3,608,000 after purchasing an additional 122 shares during the period. Calton & Associates Inc. lifted its position in shares of Alphabet by 162.8% during the 3rd quarter. Calton & Associates Inc. now owns 4,409 shares of the information services provider’s stock valued at $731,000 after acquiring an additional 2,731 shares during the period. Finally, Oakworth Capital Inc. lifted its position in shares of Alphabet by 2.5% during the 3rd quarter. Oakworth Capital Inc. now owns 22,569 shares of the information services provider’s stock valued at $3,743,000 after acquiring an additional 559 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $171.29 on Friday. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a 52 week low of $126.93 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $162.43 and a 200 day moving average of $168.91.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm earned $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Citigroup boosted their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Argus increased their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, KeyCorp increased their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.51.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents 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 Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,244 shares of company stock valued at $37,776,954. 11.55% of the stock is owned by insiders.

Alphabet 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.