Bar Harbor Wealth Management Sells 16,702 Shares of Alphabet Inc. $GOOGL

Key Points

• Bar Harbor Wealth Management cut its Alphabet stake by 12.4% in the first quarter, selling 16,702 shares and leaving it with 118,078 shares worth about $33.96 million.
• Several analysts remain bullish on GOOGL, with firms like Goldman Sachs, Needham, and Oppenheimer raising or reaffirming price targets; the stock now has a consensus Moderate Buy rating and an average target price of $413.13.
• Alphabet continues to show strong fundamentals, recently beating quarterly earnings and revenue expectations, while also raising its quarterly dividend to $0.22 per share from $0.21.

Bar Harbor Wealth Management trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 118,078 shares of the information services provider's stock after selling 16,702 shares during the period. Alphabet makes up about 2.0% of Bar Harbor Wealth Management's investment portfolio, making the stock its 11th biggest position. Bar Harbor Wealth Management's holdings in Alphabet were worth $33,955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter valued at about $32,000. EMC Capital Management acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $33,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Finally, Bard Associates Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $52,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. President Capital raised their price objective on shares of Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Needham & Company LLC reissued a "buy" rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. The Goldman Sachs Group raised their price target on Alphabet from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. HSBC reaffirmed a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Finally, Oppenheimer upped their price objective on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Two 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $413.13.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 151,523 shares of company stock valued at $4,863,526 in the last quarter. 11.61% of the stock is owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
• Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here's Who the Real Winner Is.
• Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
• Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment

Alphabet Stock Performance

GOOGL stock opened at $337.39 on Monday. The business's 50-day moving average price is $368.94 and its two-hundred day moving average price is $333.02. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.09 trillion, a PE ratio of 25.74, a P/E/G ratio of 1.44 and a beta of 1.23. Alphabet Inc. has a 1-year low of $171.73 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is presently 6.71%.

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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