Harmony Asset Management LLC Has $393,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Harmony Asset Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,350 shares of the information services provider’s stock after buying an additional 360 shares during the quarter. Harmony Asset Management LLC’s holdings in Alphabet were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Abich Financial Wealth Management LLC grew its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $40,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.5 %

NASDAQ:GOOG opened at $172.98 on Tuesday. The business has a fifty day moving average price of $169.98 and a 200-day moving average price of $171.82. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,124 shares of company stock worth $31,374,030. 12.99% of the stock is currently owned by 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.