Harvest Fund Management Co. Ltd Has $74.56 Million Holdings in Alphabet Inc. $GOOG

Harvest Fund Management Co. Ltd raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 237,622 shares of the information services provider’s stock after purchasing an additional 21,985 shares during the period. Alphabet accounts for 2.8% 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 $74,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at $18,093,665,000. Vanguard Group Inc. increased its position in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Alphabet during the fourth quarter worth about $1,017,756,000. Finally, Danske Bank A S bought a new stake in shares of Alphabet during the third quarter worth about $678,198,000. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other news, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is owned by insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google is expanding Gemini with new tools aimed at small businesses, which could help broaden adoption and monetize AI services. Google Debuts Gemini Features Geared to Small Businesses
• Positive Sentiment: Alphabet’s support for Anthropic’s $35 billion AI infrastructure financing deal reinforces its central role in AI buildout and could boost cloud demand. Google Backs $35 Billion Anthropic AI Infrastructure Financing Deal
• Positive Sentiment: Reports that Gemini monthly users have doubled highlight strong product momentum and strengthen the long-term AI growth story. Alphabet Inc. (GOOGL) Reports Doubling of Gemini App Monthly Users to 900 Million
• Neutral Sentiment: Google’s reported $920 million-per-month AI compute deal with SpaceX may support future growth, but it also signals rising infrastructure spending and AI competition costs. Google’s $920 Million-a-Month Deal Could Supercharge the SpaceX IPO
• Negative Sentiment: A fire at a third-party data center caused intermittent Google Cloud disruptions in India, which could raise reliability concerns for some customers. Fire at third-party facility disrupts Google Cloud network traffic in India
• Negative Sentiment: A California judge denied Google’s request for a new trial in the youth social media addiction case, leaving legal liability concerns in place. Meta and Google denied new trial after landmark verdict in youth social media addiction case

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOG. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Scotiabank reissued an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. TD Cowen boosted their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $376.78.

Alphabet Price Performance

Alphabet stock opened at $353.32 on Thursday. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The company’s 50 day moving average price is $355.05 and its two-hundred day moving average price is $328.84. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.28 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.55 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter last year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.