Marble Harbor Investment Counsel LLC Decreases Position in Alphabet Inc. $GOOGL

Marble Harbor Investment Counsel LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 40,168 shares of the information services provider’s stock after selling 1,489 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Alphabet were worth $7,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgeway Capital Management LLC boosted its stake in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Alaethes Wealth LLC boosted its stake in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Moment Partners LLC grew its holdings in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC raised its position in shares of Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management lifted its stake in shares of Alphabet by 4.8% during the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after buying an additional 390 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOGL. JMP Securities reaffirmed a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. KeyCorp reaffirmed an “overweight” rating and issued a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Melius Research upped their target price on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Cantor Fitzgerald raised their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Oppenheimer lifted their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.65.

Alphabet Stock Performance

Alphabet stock opened at $318.58 on Tuesday. The company has a market cap of $3.84 trillion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $319.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $263.73 and its 200-day moving average is $215.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 225,174 shares of company stock valued at $58,095,223. Company insiders own 11.64% of the company’s stock.

Alphabet Company 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.