Marble Harbor Investment Counsel LLC Lowers Holdings in Alphabet Inc. $GOOG

Marble Harbor Investment Counsel LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 20,664 shares of the information services provider’s stock after selling 404 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Alphabet were worth $3,666,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares in the last quarter. Cable Hill Partners LLC increased its stake in Alphabet by 6.8% in the first quarter. Cable Hill Partners LLC now owns 9,781 shares of the information services provider’s stock valued at $1,574,000 after acquiring an additional 624 shares during the last quarter. Grandfield & Dodd LLC increased its stake in Alphabet by 7.6% in the first quarter. Grandfield & Dodd LLC now owns 21,498 shares of the information services provider’s stock valued at $3,359,000 after acquiring an additional 1,518 shares during the last quarter. Welch & Forbes LLC raised its position in Alphabet by 0.7% during the first quarter. Welch & Forbes LLC now owns 1,211,074 shares of the information services provider’s stock valued at $189,206,000 after purchasing an additional 8,617 shares in the last quarter. Finally, FWG Holdings LLC lifted its stake in Alphabet by 6.6% during the first quarter. FWG Holdings LLC now owns 8,069 shares of the information services provider’s stock worth $1,308,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a research note on Thursday, October 30th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. HSBC reissued a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Jefferies Financial Group raised their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Trading Down 1.5%

Alphabet stock opened at $287.43 on Thursday. 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 has a market cap of $3.47 trillion, a P/E ratio of 28.35, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50 day moving average price is $256.07 and its 200-day moving average price is $208.20. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.