Hartline Investment Corp Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hartline Investment Corp boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,082 shares of the information services provider's stock after purchasing an additional 6,619 shares during the quarter. Alphabet comprises approximately 5.0% of Hartline Investment Corp's holdings, making the stock its 4th largest position. Hartline Investment Corp's holdings in Alphabet were worth $43,555,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Brady Family Wealth LLC lifted its position in shares of Alphabet by 1.6% in the 3rd quarter. Brady Family Wealth LLC now owns 68,597 shares of the information services provider's stock worth $11,377,000 after acquiring an additional 1,048 shares during the period. Lynch & Associates IN lifted its position in shares of Alphabet by 1.7% in the 3rd quarter. Lynch & Associates IN now owns 30,534 shares of the information services provider's stock worth $5,064,000 after acquiring an additional 508 shares during the period. ERn Financial LLC lifted its position in shares of Alphabet by 1.5% in the 3rd quarter. ERn Financial LLC now owns 17,274 shares of the information services provider's stock worth $2,865,000 after acquiring an additional 263 shares during the period. Kapitalo Investimentos Ltda lifted its position in shares of Alphabet by 2.7% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 9,203 shares of the information services provider's stock worth $1,526,000 after acquiring an additional 246 shares during the period. Finally, EdgeRock Capital LLC lifted its position in shares of Alphabet by 7.5% in the 3rd quarter. EdgeRock Capital LLC now owns 6,399 shares of the information services provider's stock worth $1,061,000 after acquiring an additional 444 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock valued at $25,055,751. Company insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. JPMorgan Chase & Co. dropped their target price on Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Citigroup dropped their target price on Alphabet from $232.00 to $229.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. Truist Financial increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their target price on Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.

Alphabet Trading Down 2.7 %

NASDAQ:GOOGL traded down $4.90 on Friday, reaching $179.66. The company's stock had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.19 trillion, a PE ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. The business's 50-day moving average price is $192.46 and its two-hundred day moving average price is $175.69.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet's payout ratio 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.