Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Marble Harbor Investment Counsel LLC

Key Points

• Marble Harbor Investment Counsel LLC increased its stake in Alphabet Inc. by 3.7%, owning 41,657 shares valued at approximately $6.44 million.
• Institutional investors now hold 40.03% of Alphabet's stock, with several hedge funds significantly increasing their positions in the first quarter.
• Alphabet recently reported quarterly earnings of $2.31 per share, beating estimates, and announced a $0.21 quarterly dividend payable on September 15th.

Marble Harbor Investment Counsel LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,657 shares of the information services provider's stock after purchasing an additional 1,500 shares during the period. Marble Harbor Investment Counsel LLC's holdings in Alphabet were worth $6,442,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Rosenblatt Securities lifted their price objective on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Piper Sandler lifted their price objective on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, BNP Paribas Exane restated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $211.53.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $201.42 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.36 and a beta of 1.01. The firm's fifty day simple moving average is $180.89 and its 200 day simple moving average is $172.80. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock valued at $49,474,273 in the last ninety days. Insiders own 11.55% of the company's stock.

About Alphabet

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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