Hartford Funds Management Co LLC Has $4.38 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hartford Funds Management Co LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,402 shares of the information services provider’s stock after buying an additional 426 shares during the period. Alphabet comprises about 0.4% of Hartford Funds Management Co LLC’s investment portfolio, making the stock its 8th biggest position. Hartford Funds Management Co LLC’s holdings in Alphabet were worth $4,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. New Hampshire Trust boosted its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC lifted its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the last quarter. abrdn plc boosted its stake in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The trade was a 27.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOGL opened at $174.71 on Friday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. The stock has a fifty day simple moving average of $169.51 and a two-hundred day simple moving average of $170.24. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.