Harspring Capital Management LLC Has $21.58 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Harspring Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,650 shares of the information services provider’s stock after selling 10,000 shares during the quarter. Alphabet makes up approximately 5.5% of Harspring Capital Management LLC’s portfolio, making the stock its 8th biggest position. Harspring Capital Management LLC’s holdings in Alphabet were worth $21,579,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. Fidelis Capital Partners LLC boosted its position in Alphabet by 3.6% during the second quarter. Fidelis Capital Partners LLC now owns 71,879 shares of the information services provider’s stock valued at $13,184,000 after buying an additional 2,521 shares during the period. Greenline Partners LLC lifted its stake in shares of Alphabet by 18.1% in the 2nd quarter. Greenline Partners LLC now owns 47,415 shares of the information services provider’s stock valued at $8,748,000 after acquiring an additional 7,275 shares during the last quarter. Bridgewealth Advisory Group LLC boosted its holdings in Alphabet by 8.4% during the 2nd quarter. Bridgewealth Advisory Group LLC now owns 1,785 shares of the information services provider’s stock valued at $327,000 after acquiring an additional 139 shares during the period. Frank Rimerman Advisors LLC grew its position in Alphabet by 8.5% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 153,311 shares of the information services provider’s stock worth $28,120,000 after acquiring an additional 11,998 shares during the last quarter. Finally, Circle Wealth Management LLC increased its stake in Alphabet by 14.9% in the 2nd quarter. Circle Wealth Management LLC now owns 71,983 shares of the information services provider’s stock worth $13,203,000 after purchasing an additional 9,314 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling

In related news, 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 transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction 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 sold a total of 202,667 shares of company stock worth $33,964,256 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOG stock opened at $164.64 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a 50-day moving average of $166.26 and a 200 day moving average of $167.02. The company has a market cap of $2.03 trillion, a P/E ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

About Alphabet

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.