Alphabet Inc. (NASDAQ:GOOGL) Stake Reduced by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 293,956 shares of the information services provider's stock after selling 32,461 shares during the quarter. Alphabet makes up 2.3% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 8th largest position. Harvest Fund Management Co. Ltd's holdings in Alphabet were worth $45,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at $39,000. Finally, Elite Financial Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.2%

Shares of GOOGL stock traded up $0.43 during midday trading on Thursday, reaching $196.52. 26,014,319 shares of the stock were exchanged, compared to its average volume of 38,764,620. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company's 50 day moving average is $180.26 and its two-hundred day moving average is $173.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets lifted their price target on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $211.53.

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.