Alphabet Inc. $GOOGL Shares Sold by Royal Harbor Partners LLC

Key Points

• Royal Harbor Partners LLC reduced its Alphabet stake by 16.4% in the first quarter, selling 2,767 shares and leaving it with 14,077 shares valued at about $4.05 million.
• Alphabet reported strong quarterly results, posting $5.11 EPS versus the $2.64 consensus and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share from $0.21.
• Wall Street remains broadly positive on the stock, with analysts assigning a Moderate Buy consensus and an average price target of $413.92, even as some insiders have sold shares in recent months.

Royal Harbor Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,077 shares of the information services provider's stock after selling 2,767 shares during the period. Alphabet makes up approximately 1.4% of Royal Harbor Partners LLC's investment portfolio, making the stock its 22nd largest holding. Royal Harbor Partners LLC's holdings in Alphabet were worth $4,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Lifetime Wealth Management P.C. purchased a new stake in shares of Alphabet in the 4th quarter valued at $32,000. EMC Capital Management purchased a new position in shares of Alphabet during the fourth quarter worth $33,000. PMV Capital Advisers LLC purchased a new position in shares of Alphabet during the fourth quarter worth $38,000. IFC & Insurance Marketing Inc. acquired a new position in Alphabet during the fourth quarter valued at $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter valued at $52,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Down 0.5%

Shares of Alphabet stock opened at $357.18 on Friday. The firm has a 50-day simple moving average of $372.61 and a two-hundred day simple moving average of $336.44. The company has a market cap of $4.33 trillion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. Alphabet Inc. has a fifty-two week low of $176.48 and a fifty-two week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. As a group, equities analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio (DPR) is currently 6.71%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Dbs Bank increased their price target on Alphabet from $400.00 to $460.00 in a research report on Thursday, May 7th. Citizens Jmp reissued a "market outperform" rating and issued a $515.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Freedom Capital downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Alphabet in a report on Monday, June 22nd. Finally, Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $413.92.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares of the company's stock, valued at $995,341.06. This represents a 29.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,465 shares of company stock valued at $8,020,511 in the last ninety days. 11.61% of the stock is currently owned by company insiders.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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