Harbour Capital Advisors LLC Acquires New Position in Alphabet Inc (GOOGL)

Harbour Capital Advisors LLC acquired a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 935 shares of the information services provider’s stock, valued at approximately $977,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its position in Alphabet by 5.5% during the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after purchasing an additional 858,589 shares during the period. Bank of New York Mellon Corp boosted its position in Alphabet by 118,334.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock valued at $3,968,570,000 after purchasing an additional 3,284,967 shares during the period. Jennison Associates LLC boosted its position in Alphabet by 10.4% during the 3rd quarter. Jennison Associates LLC now owns 1,922,845 shares of the information services provider’s stock valued at $2,321,028,000 after purchasing an additional 181,916 shares during the period. Rehmann Capital Advisory Group boosted its position in Alphabet by 118,282.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock valued at $2,137,263,000 after purchasing an additional 1,813,265 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Alphabet by 6.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,671,001 shares of the information services provider’s stock valued at $2,017,032,000 after purchasing an additional 95,096 shares during the period. Institutional investors own 33.99% of the company’s stock.

GOOGL has been the topic of several recent analyst reports. Jefferies Financial Group set a $1,200.00 target price on Alphabet and gave the company a “buy” rating in a research note on Thursday, December 20th. Canaccord Genuity raised Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,140.00 to $1,250.00 in a research note on Thursday, January 3rd. Zacks Investment Research downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Pivotal Research raised Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,010.00 to $1,240.00 in a research note on Monday, January 7th. Finally, ValuEngine downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,329.91.

Shares of Alphabet stock opened at $1,231.91 on Wednesday. The firm has a market cap of $850.02 billion, a PE ratio of 25.93, a P/E/G ratio of 1.44 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period in the previous year, the firm earned $9.70 earnings per share. Equities research analysts predict that Alphabet Inc will post 47.38 EPS for the current fiscal year.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: What is the S&P 500 Index?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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