Harbor Capital Advisors Inc. Sells 991 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Harbor Capital Advisors Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,164 shares of the information services provider’s stock after selling 991 shares during the period. Harbor Capital Advisors Inc.’s holdings in Alphabet were worth $12,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its stake in shares of 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 buying an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter valued at about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter worth about $41,000. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Quarry LP purchased a new position in Alphabet in the second quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,471,141. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $172.49 on Friday. The company has a market cap 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 current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The firm has a 50-day moving average of $165.18 and a two-hundred day moving average of $170.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during 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 last year, the company posted $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.