Oriental Harbor Investment Fund Purchases 181,235 Shares of Alphabet Inc. $GOOG

Key Points

• Oriental Harbor Investment Fund increased its stake in Alphabet Inc. by 38.3%, acquiring an additional 181,235 shares, bringing its total holdings to 654,318 shares valued at approximately $102.2 million.
• Insiders at Alphabet sold a total of 254,710 shares worth about $49.2 million over the last ninety days, indicating a notable decrease in ownership among company executives.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annualized yield of 0.4%, and is projected to maintain a strong financial performance with an expected EPS of 8.89 for the current fiscal year.

Oriental Harbor Investment Fund lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 654,318 shares of the information services provider's stock after purchasing an additional 181,235 shares during the period. Alphabet accounts for approximately 11.3% of Oriental Harbor Investment Fund's investment portfolio, making the stock its 7th biggest holding. Oriental Harbor Investment Fund's holdings in Alphabet were worth $102,224,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. ARQ Wealth Advisors LLC increased its stake in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky increased its stake in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the period. Fermata Advisors LLC increased its stake in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. jvl associates llc increased its stake in shares of Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co increased its stake in shares of Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after purchasing an additional 2,292 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $0.60 during trading on Friday, reaching $241.38. 14,077,016 shares of the company's stock were exchanged, compared to its average volume of 23,918,375. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57. The company has a market cap of $2.92 trillion, a P/E ratio of 25.71, a PEG ratio of 1.61 and a beta of 1.01. The firm's 50-day moving average price is $201.45 and its 200 day moving average price is $178.39.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of analyst reports. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Oppenheimer reissued an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $227.56.

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.