Harmony Asset Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Harmony Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,749 shares of the information services provider’s stock after buying an additional 1,362 shares during the period. Alphabet accounts for about 3.2% of Harmony Asset Management LLC’s portfolio, making the stock its 6th largest holding. Harmony Asset Management LLC’s holdings in Alphabet were worth $8,583,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Hilltop Holdings Inc. boosted its stake in Alphabet by 59.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 76,087 shares of the information services provider’s stock valued at $12,619,000 after purchasing an additional 28,423 shares during the period. Hollow Brook Wealth Management LLC lifted its holdings in shares of Alphabet by 3.5% during the third quarter. Hollow Brook Wealth Management LLC now owns 46,898 shares of the information services provider’s stock worth $7,778,000 after buying an additional 1,578 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its position in shares of Alphabet by 30.1% in the third quarter. Garden State Investment Advisory Services LLC now owns 13,536 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 3,132 shares during the period. Coastwise Capital Group LLC grew its stake in shares of Alphabet by 4.5% in the third quarter. Coastwise Capital Group LLC now owns 22,173 shares of the information services provider’s stock valued at $3,707,000 after acquiring an additional 954 shares in the last quarter. Finally, Community Bank N.A. increased its position in Alphabet by 2.9% during the third quarter. Community Bank N.A. now owns 43,383 shares of the information services provider’s stock worth $7,195,000 after acquiring an additional 1,239 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Bank of America increased their target price on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Stock Down 1.1 %

Alphabet stock opened at $189.82 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $195.61. The firm has a 50 day moving average price of $171.63 and a two-hundred day moving average price of $170.71. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now directly owns 27,824 shares of the company’s stock, valued at approximately $4,590,960. The trade was a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,623 shares of company stock worth $34,413,006 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.