Harrington Investments INC Sells 320 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Harrington Investments INC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,991 shares of the information services provider’s stock after selling 320 shares during the period. Alphabet comprises approximately 3.6% of Harrington Investments INC’s holdings, making the stock its 3rd largest position. Harrington Investments INC’s holdings in Alphabet were worth $6,624,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Clearstead Trust LLC lifted its holdings in shares of Alphabet by 12.8% in the 4th quarter. Clearstead Trust LLC now owns 59,537 shares of the information services provider’s stock valued at $11,270,000 after buying an additional 6,779 shares during the period. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the fourth quarter worth $5,435,000. Montis Financial LLC lifted its holdings in Alphabet by 6.7% in the fourth quarter. Montis Financial LLC now owns 10,612 shares of the information services provider’s stock valued at $2,009,000 after acquiring an additional 668 shares during the period. Campbell Capital Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $57,000. Finally, Zevin Asset Management LLC grew its stake in shares of Alphabet by 14.0% during the 4th quarter. Zevin Asset Management LLC now owns 109,074 shares of the information services provider’s stock worth $20,648,000 after purchasing an additional 13,403 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 in the last three months. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Price Performance

Alphabet stock opened at $165.06 on Thursday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a fifty day moving average of $181.11 and a 200-day moving average of $176.78. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.50, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

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.