Financial Harvest LLC Acquires Shares of 2,179 Alphabet Inc. (NASDAQ:GOOGL)

Financial Harvest LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,179 shares of the information services provider’s stock, valued at approximately $412,000.

Other hedge funds also recently made changes to their positions in the company. Cromwell Holdings LLC grew its position in Alphabet by 0.9% during the fourth quarter. Cromwell Holdings LLC now owns 15,453 shares of the information services provider’s stock worth $2,925,000 after buying an additional 141 shares in the last quarter. Aspen Investment Management Inc raised its holdings in Alphabet by 1.2% in the 4th quarter. Aspen Investment Management Inc now owns 11,652 shares of the information services provider’s stock valued at $2,206,000 after acquiring an additional 142 shares in the last quarter. Prakash Investment Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $1,762,000. Parcion Private Wealth LLC grew its holdings in shares of Alphabet by 166.6% during the 4th quarter. Parcion Private Wealth LLC now owns 64,284 shares of the information services provider’s stock worth $12,169,000 after purchasing an additional 40,172 shares in the last quarter. Finally, O Brien Greene & Co. Inc grew its holdings in shares of Alphabet by 16.4% during the 4th quarter. O Brien Greene & Co. Inc now owns 5,763 shares of the information services provider’s stock worth $1,091,000 after purchasing an additional 813 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Bank of America reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Cantor Fitzgerald cut their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $173.02 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $189.06 and its 200-day moving average price is $176.38. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 21.49, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.85 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is owned by company insiders.

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.