Clear Harbor Asset Management LLC Has $4.50 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Clear Harbor Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,891.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,060 shares of the information services provider’s stock after acquiring an additional 44,697 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Alphabet were worth $4,501,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bornite Capital Management LP bought a new position in shares of Alphabet in the first quarter valued at about $16,688,000. Markel Corp raised its position in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank raised its position in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Atlantic Securities lowered their price target on shares of Alphabet to $115.00 in a research report on Thursday, October 27th. Wells Fargo & Company lowered their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Cowen lowered their price target on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. JMP Securities lowered their price target on shares of Alphabet from $145.00 to $132.00 in a research report on Wednesday, November 23rd. Finally, The Goldman Sachs Group decreased their target price on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Stock Up 1.1 %

NASDAQ:GOOGL opened at $92.12 on Monday. The company has a market cap of $1.19 trillion, a PE ratio of 18.29, a P/E/G ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm’s 50 day simple moving average is $92.82 and its 200 day simple moving average is $102.19.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter last year, the firm posted $1.40 EPS. On average, research analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the stock in a transaction dated Monday, October 24th. The stock was bought at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the purchase, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Corporate insiders own 11.44% of the company’s stock.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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