Harbert Fund Advisors Inc. Has $3.86 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Harbert Fund Advisors Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,250 shares of the information services provider's stock after selling 22,250 shares during the quarter. Alphabet accounts for 2.0% of Harbert Fund Advisors Inc.'s holdings, making the stock its 11th biggest position. Harbert Fund Advisors Inc.'s holdings in Alphabet were worth $3,856,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet in the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the 4th quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 24th. KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Westpark Capital began coverage on Alphabet in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Finally, UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.71.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares of the company's stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,497 shares of company stock worth $20,837,150 in the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG stock traded down $3.09 on Tuesday, reaching $158.38. The company had a trading volume of 7,753,613 shares, compared to its average volume of 19,371,976. The business's 50-day moving average is $169.86 and its 200 day moving average is $177.96. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.93 trillion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

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.