Oriental Harbor Investment Fund Boosts Stake in Alphabet Inc. $GOOG

Key Points

• Oriental Harbor Investment Fund increased its holdings in Alphabet Inc. by 322.6% in Q2, now owning over 2.76 million shares, making it their largest holding at 30.4% of their portfolio.
• Alphabet recently announced a quarterly dividend of $0.21, representing an annual yield of 0.3%, with a payout ratio of 8.95%.
• Insiders at Alphabet sold a total of 276,738 shares worth approximately $59.1 million in the past three months, indicating potential shifts in insider confidence.

Oriental Harbor Investment Fund lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 322.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,764,923 shares of the information services provider's stock after acquiring an additional 2,110,605 shares during the period. Alphabet accounts for about 30.4% of Oriental Harbor Investment Fund's portfolio, making the stock its biggest holding. Oriental Harbor Investment Fund's holdings in Alphabet were worth $490,405,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC grew its stake in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock valued at $572,000 after acquiring an additional 1,899 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Alphabet by 2.1% in the 1st quarter. Princeton Global Asset Management LLC now owns 35,274 shares of the information services provider's stock valued at $5,511,000 after acquiring an additional 710 shares during the last quarter. Perkins Coie Trust Co increased its holdings in Alphabet by 7.5% in the 1st quarter. Perkins Coie Trust Co now owns 5,143 shares of the information services provider's stock valued at $803,000 after acquiring an additional 357 shares during the last quarter. Finally, Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.0%

Shares of NASDAQ:GOOG opened at $246.45 on Monday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The business's 50 day moving average is $221.89 and its 200 day moving average is $187.31. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the company posted $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price target on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Robert W. Baird upped their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Mizuho upgraded shares of Alphabet to a "strong-buy" rating in a research report on Monday, September 29th. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $235.33.

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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