Flagship Harbor Advisors LLC Has $8.74 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Flagship Harbor Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,528 shares of the information services provider’s stock after acquiring an additional 1,000 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $8,742,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Compass Planning Associates Inc bought a new position in Alphabet during the fourth quarter worth about $30,000. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $49,000. Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $53,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOOGL shares. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Mizuho reduced their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Jefferies Financial Group lowered their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. DA Davidson cut their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.17.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,195 shares of company stock valued at $35,764,898. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.7%

Shares of NASDAQ GOOGL opened at $173.54 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 19.35, a P/E/G ratio of 1.09 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company’s 50 day simple moving average is $165.90 and its 200 day simple moving average is $174.57.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the company posted $1.89 EPS. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

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.