Alphabet Inc. $GOOGL Shares Sold by SmartHarvest Portfolios LLC

Key Points

• SmartHarvest Portfolios LLC cut its Alphabet stake by 6.8% in the first quarter, selling 1,955 shares and ending with 26,808 shares worth about $7.71 million. Alphabet remains its fourth-largest holding and accounts for 3.2% of the portfolio.
• Wall Street sentiment on Alphabet is still constructive, with several analysts raising price targets and issuing Buy ratings. The stock currently carries a consensus rating of Moderate Buy and an average price target of $413.90.
• Alphabet posted a strong quarterly beat, reporting $5.11 EPS versus expectations of $2.64 and revenue of $109.90 billion versus estimates of $106.98 billion. The company also raised its quarterly dividend to $0.22 per share, up from $0.21.

SmartHarvest Portfolios LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,808 shares of the information services provider's stock after selling 1,955 shares during the quarter. Alphabet comprises 3.2% of SmartHarvest Portfolios LLC's holdings, making the stock its 4th largest holding. SmartHarvest Portfolios LLC's holdings in Alphabet were worth $7,709,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. AA Financial Advisors LLC increased its stake in Alphabet by 13.6% during the 1st quarter. AA Financial Advisors LLC now owns 11,149 shares of the information services provider's stock valued at $3,206,000 after purchasing an additional 1,337 shares in the last quarter. Falcon Wealth Planning grew its holdings in shares of Alphabet by 12.6% during the first quarter. Falcon Wealth Planning now owns 12,103 shares of the information services provider's stock valued at $3,480,000 after buying an additional 1,359 shares during the last quarter. Independent Wealth Network Inc. increased its position in shares of Alphabet by 2.3% during the first quarter. Independent Wealth Network Inc. now owns 4,104 shares of the information services provider's stock worth $1,180,000 after acquiring an additional 91 shares in the last quarter. Verus Financial Partners Inc. increased its position in shares of Alphabet by 23.8% during the first quarter. Verus Financial Partners Inc. now owns 3,367 shares of the information services provider's stock worth $968,000 after acquiring an additional 648 shares in the last quarter. Finally, LifeWealth Investments LLC raised its holdings in shares of Alphabet by 5.2% in the 1st quarter. LifeWealth Investments LLC now owns 10,082 shares of the information services provider's stock worth $2,899,000 after acquiring an additional 496 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an "outperform" rating in a report on Thursday, April 30th. China Renaissance increased their price target on Alphabet from $400.00 to $485.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Wall Street Zen upgraded Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Arete Research lifted their price objective on shares of Alphabet from $405.00 to $425.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $415.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $413.90.

Insider Buying and Selling at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock valued at $8,020,511 in the last quarter. Insiders own 11.61% of the company's stock.

Alphabet Price Performance

GOOGL opened at $361.21 on Thursday. Alphabet Inc. has a fifty-two week low of $172.77 and a fifty-two week high of $408.61. The firm has a 50-day moving average of $370.08 and a 200 day moving average of $333.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.38 trillion, a P/E ratio of 27.55, a PEG ratio of 1.53 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, research analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's payout ratio is presently 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

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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