Harbour Investments Inc. Buys 337 Shares of Alphabet Inc. (NASDAQ:GOOG)

Harbour Investments Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the third quarter, HoldingsChannel reports. The fund owned 43,084 shares of the information services provider’s stock after purchasing an additional 337 shares during the period. Harbour Investments Inc.’s holdings in Alphabet were worth $7,203,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. M&G PLC bought a new position in shares of Alphabet in the third quarter worth approximately $2,240,000. Colonial River Wealth Management LLC grew its holdings in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Alphabet by 10.2% in the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares during the last quarter. Finally, Marks Group Wealth Management Inc boosted its holdings in shares of Alphabet by 5.4% during the third quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after purchasing an additional 8,304 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,752 shares of company stock worth $40,156,829. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG opened at $181.97 on Tuesday. The company’s 50-day simple moving average is $164.92 and its two-hundred day simple moving average is $171.27. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The stock has a market capitalization of $2.23 trillion, a P/E ratio of 24.13, a P/E/G ratio of 1.26 and a beta of 1.04. 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 (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.