Flagship Harbor Advisors LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Flagship Harbor Advisors LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 49,060 shares of the information services provider’s stock, valued at approximately $8,137,000.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter worth about $30,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in shares of Alphabet in the second quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $171.29 on Friday. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. Alphabet Inc. has a 52-week low of $126.93 and a 52-week high of $191.75. The stock has a 50-day simple moving average of $162.43 and a 200-day simple moving average of $168.91.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the business posted $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock valued at $37,776,954 over the last three months. Insiders own 11.55% of the company’s stock.

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.