Alphabet Inc. (NASDAQ:GOOGL) is Harvard Management Co. Inc.'s 3rd Largest Position

Harvard Management Co. Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 42.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 686,812 shares of the information services provider's stock after selling 508,200 shares during the period. Alphabet comprises about 7.7% of Harvard Management Co. Inc.'s portfolio, making the stock its 3rd largest holding. Harvard Management Co. Inc.'s holdings in Alphabet were worth $130,014,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. Passumpsic Savings Bank lifted its stake in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock valued at $779,000 after purchasing an additional 1,294 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of Alphabet by 0.5% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock valued at $6,199,000 after purchasing an additional 202 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Alphabet by 6.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after purchasing an additional 130 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in shares of Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after purchasing an additional 22,169 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Insiders own 11.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GOOGL shares. KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday. Truist Financial decreased their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Roth Mkm restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Finally, Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $198.89.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $160.61 on Tuesday. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $1.96 trillion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm's fifty day simple moving average is $161.69 and its 200-day simple moving average is $175.60.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

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.

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