Clear Harbor Asset Management LLC Has $14.80 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Clear Harbor Asset Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,235 shares of the information services provider’s stock after selling 1,981 shares during the period. Alphabet accounts for 1.2% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 17th biggest position. Clear Harbor Asset Management LLC’s holdings in Alphabet were worth $14,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares during the period. Fortis Group Advisors LLC increased its holdings in Alphabet by 552.0% in the first quarter. Fortis Group Advisors LLC now owns 39,276 shares of the information services provider’s stock worth $5,928,000 after purchasing an additional 33,252 shares in the last quarter. JLB & Associates Inc. lifted its stake in Alphabet by 7.2% in the first quarter. JLB & Associates Inc. now owns 15,801 shares of the information services provider’s stock valued at $2,406,000 after buying an additional 1,066 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Alphabet by 13.5% during the 1st quarter. Van ECK Associates Corp now owns 3,537,451 shares of the information services provider’s stock worth $533,908,000 after buying an additional 419,480 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. boosted its holdings in shares of Alphabet by 1.1% during the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider’s stock worth $9,436,000 after buying an additional 655 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $180.75 on Friday. The company has a market capitalization of $2.23 trillion, a P/E ratio of 23.97, a P/E/G ratio of 1.20 and a beta of 1.03. The business has a fifty day simple moving average of $162.86 and a two-hundred day simple moving average of $169.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 242,552 shares of company stock worth $40,287,253. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOOGL shares. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Argus upped their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $205.90.

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.