Alphabet Inc. (NASDAQ:GOOGL) Holdings Reduced by Harbor Advisory Corp MA

Harbor Advisory Corp MA decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,235 shares of the information services provider’s stock after selling 4,319 shares during the quarter. Alphabet comprises 4.4% of Harbor Advisory Corp MA’s holdings, making the stock its 2nd largest position. Harbor Advisory Corp MA’s holdings in Alphabet were worth $12,793,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Waypoint Capital Advisors LLC increased its stake in Alphabet by 5.9% during the second quarter. Waypoint Capital Advisors LLC now owns 17,023 shares of the information services provider’s stock worth $3,101,000 after acquiring an additional 943 shares during the last quarter. Tranquility Partners LLC increased its stake in Alphabet by 2.4% during the second quarter. Tranquility Partners LLC now owns 22,317 shares of the information services provider’s stock worth $4,065,000 after acquiring an additional 522 shares during the last quarter. Retirement Solution LLC acquired a new stake in Alphabet during the second quarter worth $200,000. Tanager Wealth Management LLP increased its stake in Alphabet by 7.8% during the second quarter. Tanager Wealth Management LLP now owns 24,214 shares of the information services provider’s stock worth $4,411,000 after acquiring an additional 1,760 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in Alphabet by 1.9% during the second quarter. Baillie Gifford & Co. now owns 987,806 shares of the information services provider’s stock worth $179,929,000 after acquiring an additional 17,975 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,883 shares of company stock valued at $26,705,320. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GOOGL shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research note on Tuesday, August 6th. Morgan Stanley boosted their target price on Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. TD Securities boosted their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Up 1.0 %

Alphabet stock opened at $163.38 on Tuesday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock has a 50 day moving average of $173.13 and a two-hundred day moving average of $164.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the firm earned $1.44 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

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.