Royal Harbor Partners LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Royal Harbor Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,881 shares of the information services provider’s stock after purchasing an additional 303 shares during the period. Alphabet accounts for about 1.2% of Royal Harbor Partners LLC’s portfolio, making the stock its 25th largest position. Royal Harbor Partners LLC’s holdings in Alphabet were worth $3,131,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Conning Inc. grew its position in shares of Alphabet by 5.3% in the 3rd quarter. Conning Inc. now owns 70,991 shares of the information services provider’s stock worth $11,774,000 after buying an additional 3,560 shares during the last quarter. Clear Creek Financial Management LLC grew its position in shares of Alphabet by 1.5% in the 3rd quarter. Clear Creek Financial Management LLC now owns 18,062 shares of the information services provider’s stock worth $2,996,000 after buying an additional 262 shares during the last quarter. Princeton Global Asset Management LLC grew its position in shares of Alphabet by 5.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 62,452 shares of the information services provider’s stock worth $10,358,000 after buying an additional 2,953 shares during the last quarter. Argonautica Private Wealth Management Inc. grew its position in shares of Alphabet by 0.3% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 72,700 shares of the information services provider’s stock worth $12,057,000 after buying an additional 244 shares during the last quarter. Finally, Stevens Capital Partners grew its position in shares of Alphabet by 34.7% in the 3rd quarter. Stevens Capital Partners now owns 1,544 shares of the information services provider’s stock worth $256,000 after buying an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $172.49 on Friday. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. The company has a fifty day simple moving average of $165.18 and a 200-day simple moving average of $170.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOGL shares. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five 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 an average target price of $205.90.

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.