Harbour Investments Inc. Purchases 337 Shares of Alphabet Inc. (NASDAQ:GOOG)

Harbour Investments Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,084 shares of the information services provider’s stock after buying an additional 337 shares during the period. Harbour Investments Inc.’s holdings in Alphabet were worth $7,203,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter worth about $37,000. HWG Holdings LP purchased a new position in shares of Alphabet in the 2nd quarter worth about $40,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet in the second quarter worth about $44,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOG opened at $181.97 on Tuesday. The company has a market cap of $2.23 trillion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The firm has a fifty day moving average price of $164.92 and a two-hundred day moving average price of $171.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.