Hartline Investment Corp Has $43.56 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hartline Investment Corp increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,082 shares of the information services provider’s stock after acquiring an additional 6,619 shares during the period. Alphabet comprises about 5.0% of Hartline Investment Corp’s holdings, making the stock its 4th largest holding. Hartline Investment Corp’s holdings in Alphabet were worth $43,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new position in Alphabet during the 4th quarter valued at about $5,809,000. BostonPremier Wealth LLC purchased a new position in Alphabet during the 4th quarter valued at about $204,000. Violich Capital Management Inc. increased its holdings in Alphabet by 0.4% during the 4th quarter. Violich Capital Management Inc. now owns 334,510 shares of the information services provider’s stock valued at $63,323,000 after purchasing an additional 1,395 shares during the period. Armor Investment Advisors LLC increased its holdings in Alphabet by 2.6% during the 4th quarter. Armor Investment Advisors LLC now owns 9,988 shares of the information services provider’s stock valued at $1,891,000 after purchasing an additional 249 shares during the period. Finally, Mill Creek Capital Advisors LLC increased its holdings in Alphabet by 25.3% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 20,702 shares of the information services provider’s stock valued at $3,919,000 after purchasing an additional 4,178 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock worth $25,055,751 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $179.66 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.35 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The business’s fifty day moving average price is $192.46 and its 200-day moving average price is $175.69.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Wells Fargo & Company upped their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup reduced their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet 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.