Harvard Management Co. Inc. Has $288.15 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Harvard Management Co. Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 54.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,581,932 shares of the information services provider’s stock after selling 1,887,743 shares during the period. Alphabet makes up 17.5% of Harvard Management Co. Inc.’s holdings, making the stock its 3rd biggest holding. Harvard Management Co. Inc.’s holdings in Alphabet were worth $288,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter worth about $36,000. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the 4th quarter worth about $30,000. Finally, Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter worth about $41,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 1.2 %

NASDAQ:GOOGL opened at $165.85 on Tuesday. The firm has a market cap of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a 50-day simple moving average of $162.52 and a two-hundred day simple moving average of $166.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business earned $1.44 EPS. Analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. Insiders sold 193,725 shares of company stock worth $31,933,031 over the last three months. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Piper Sandler reiterated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research note on Monday. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Citigroup boosted their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. TD Securities upped their price target on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

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.