Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 69.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,327 shares of the information services provider’s stock after buying an additional 108,705 shares during the period. Alphabet accounts for about 2.3% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 9th biggest holding. Harvest Fund Management Co. Ltd’s holdings in Alphabet were worth $50,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at about $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. increased its stake in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 2.3 %

Shares of NASDAQ:GOOG opened at $162.67 on Wednesday. Alphabet Inc. has a 52-week low of $147.01 and a 52-week high of $208.70. 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 business’s 50 day simple moving average is $186.10 and its two-hundred day simple moving average is $178.10. The firm has a market cap of $1.98 trillion, a P/E ratio of 20.21, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOOG shares. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued 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 $209.13.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.