Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 26,425 shares of the information services provider’s stock after acquiring an additional 1,105 shares during the period. Alphabet makes up 2.7% of Granite Harbor Advisors Inc.’s investment portfolio, making the stock its 12th largest position. Granite Harbor Advisors Inc.’s holdings in Alphabet were worth $3,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GOOGL. Tributary Capital Management LLC acquired a new position in Alphabet during the 1st quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the 4th quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter valued at approximately $38,000. Richardson Capital Management LLC boosted its position in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares during the period. Finally, Armor Investment Advisors LLC boosted its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $191.18 on Thursday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $191.75. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 1.42 and a beta of 1.05. The stock’s fifty day simple moving average is $176.95 and its 200-day simple moving average is $157.15.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is 12.27%.

Analysts Set New Price Targets

Several analysts have weighed in on GOOGL shares. Wolfe Research lifted their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Citigroup lifted their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Tigress Financial lifted their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Finally, Royal Bank of Canada lifted their target price on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued 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 target price of $195.06.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 over the last 90 days. 11.55% of the stock is currently owned by corporate 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.