K.J. Harrison & Partners Inc Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

K.J. Harrison & Partners Inc lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,387 shares of the information services provider's stock after selling 5,823 shares during the quarter. Alphabet accounts for about 1.1% of K.J. Harrison & Partners Inc's holdings, making the stock its 21st biggest position. K.J. Harrison & Partners Inc's holdings in Alphabet were worth $5,685,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter valued at $27,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer owned 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,195 shares of company stock worth $35,764,898. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.5%

GOOG traded down $0.88 during trading on Monday, hitting $177.39. 43,931,863 shares of the company's stock were exchanged, compared to its average volume of 21,075,966. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a 50 day moving average price of $167.82 and a 200 day moving average price of $175.90. The firm has a market cap of $2.15 trillion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Scotiabank decreased their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $206.38.

Alphabet 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.