Alphabet Inc. (NASDAQ:GOOGL) is Harbor Investment Advisory LLC's 6th Largest Position

Harbor Investment Advisory LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 168,892 shares of the information services provider's stock after selling 4,069 shares during the quarter. Alphabet accounts for approximately 2.4% of Harbor Investment Advisory LLC's portfolio, making the stock its 6th biggest position. Harbor Investment Advisory LLC's holdings in Alphabet were worth $26,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $49,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, KeyCorp boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Price Performance

Alphabet stock traded up $1.87 during midday trading on Wednesday, reaching $168.05. The company's stock had a trading volume of 26,769,968 shares, compared to its average volume of 30,042,004. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock's 50 day simple moving average is $159.26 and its 200 day simple moving average is $174.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the firm posted $1.89 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,270 shares of company stock valued at $26,553,563 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

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.