473,083 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Oriental Harbor Investment Fund

Oriental Harbor Investment Fund acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the 3rd quarter, HoldingsChannel reports. The fund acquired 473,083 shares of the information services provider’s stock, valued at approximately $80,656,000. Alphabet accounts for about 9.0% of Oriental Harbor Investment Fund’s investment portfolio, making the stock its 7th largest holding.

Other institutional investors also recently modified their holdings of the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter worth $25,000. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the third quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the second quarter valued at $37,000. Finally, HWG Holdings LP bought a new stake in Alphabet during the second quarter valued at $40,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

GOOG opened at $193.63 on Friday. The firm has a 50-day moving average price of $172.74 and a 200-day moving average price of $172.12. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.06 and a twelve month high of $196.89. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,123 shares of company stock worth $34,121,676. 12.99% of the stock is owned by company 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.