Alphabet Inc. (NASDAQ:GOOGL) is Harbor Investment Advisory LLC’s 5th Largest Position

Posted by on Apr 8th, 2023

Harbor Investment Advisory LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,732 shares of the information services provider’s stock after selling 10,760 shares during the quarter. Alphabet makes up about 2.8% of Harbor Investment Advisory LLC’s portfolio, making the stock its 5th biggest holding. Harbor Investment Advisory LLC’s holdings in Alphabet were worth $17,622,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at about $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its position in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $281,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 31st. JMP Securities reiterated a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research report on Thursday, March 16th. Credit Suisse Group dropped their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a research report on Friday, March 17th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $131.17.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 in the last three months. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Up 3.8 %

Alphabet stock opened at $108.42 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $137.16. The firm has a market capitalization of $1.39 trillion, a P/E ratio of 23.83, a P/E/G ratio of 1.45 and a beta of 1.10. The stock’s fifty day simple moving average is $98.16 and its 200-day simple moving average is $95.95.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period last year, the business earned $1.53 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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