Harbor Capital Advisors Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Harbor Capital Advisors Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,699 shares of the information services provider's stock after selling 6,025 shares during the period. Harbor Capital Advisors Inc.'s holdings in Alphabet were worth $13,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Weiss Asset Management LP bought a new position in Alphabet during the third quarter valued at approximately $25,000. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter valued at $33,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock worth $42,000 after acquiring an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.1 %

Shares of GOOG traded down $2.22 during trading hours on Friday, hitting $193.17. The company had a trading volume of 20,731,024 shares, compared to its average volume of 16,929,918. The stock has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.34 and a beta of 0.99. The firm has a fifty day moving average price of $183.71 and a 200-day moving average price of $174.52. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet's payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 441 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company's stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock worth $27,996,356 over the last quarter. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Finally, Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $200.56.

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.