Harbour Capital Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Harbour Capital Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,151 shares of the information services provider’s stock after selling 279 shares during the period. Harbour Capital Advisors LLC’s holdings in Alphabet were worth $4,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Wulff Hansen & CO. grew its stake in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,053 shares of company stock worth $27,559,701. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday. Stifel Nicolaus boosted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.15.

Alphabet Price Performance

NASDAQ GOOGL opened at $191.01 on Tuesday. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The firm has a market capitalization of $2.34 trillion, a PE ratio of 25.33, a P/E/G ratio of 1.35 and a beta of 0.98. The company’s 50 day simple moving average is $183.05 and its 200 day simple moving average is $172.99. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Alphabet Company 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.