Alphabet Inc. (NASDAQ:GOOGL) is Hartline Investment Corp’s 5th Largest Position

Hartline Investment Corp lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,463 shares of the information services provider’s stock after selling 4,684 shares during the period. Alphabet makes up approximately 4.6% of Hartline Investment Corp’s portfolio, making the stock its 5th largest position. Hartline Investment Corp’s holdings in Alphabet were worth $37,061,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP acquired a new stake in Alphabet in the 2nd quarter valued at approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet in the second quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Seven equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Up 0.9 %

GOOGL opened at $169.12 on Wednesday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. The business’s 50-day simple moving average is $168.03 and its 200-day simple moving average is $170.35.

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

Alphabet Dividend Announcement

The firm 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 $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last 90 days. 11.55% of the stock is owned by insiders.

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.