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

Hartline Investment Corp cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,463 shares of the information services provider's stock after selling 4,684 shares during the quarter. Alphabet comprises about 4.6% of Hartline Investment Corp's holdings, making the stock its 5th largest position. Hartline Investment Corp's holdings in Alphabet were worth $37,061,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock worth $15,279,000 after acquiring an additional 41,880 shares during the last quarter. Quent Capital LLC raised its stake in Alphabet by 3.6% in the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock valued at $4,705,000 after purchasing an additional 1,072 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $382,000. Leelyn Smith LLC lifted its position in Alphabet by 209.8% during the first quarter. Leelyn Smith LLC now owns 37,995 shares of the information services provider's stock valued at $5,735,000 after purchasing an additional 25,730 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Alphabet in the 1st quarter worth approximately $4,635,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOGL shares. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. JMP Securities raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a "buy" rating for the company in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $205.90.

Alphabet Stock Up 0.1 %

GOOGL traded up $0.11 during trading on Wednesday, reaching $169.23. The stock had a trading volume of 19,241,543 shares, compared to its average volume of 27,217,824. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 1.19 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. The stock's 50 day moving average is $168.22 and its two-hundred day moving average is $170.34.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 319,966 shares of the company's stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 11.55% of the company's stock.

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.