Everett Harris & Co. CA Has $88.99 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Everett Harris & Co. CA reduced its holdings in Alphabet Inc. by 0.8%, owning 575,435 shares valued at approximately $88.99 million.
• Alphabet reported earnings of $2.31 per share in its latest quarter, exceeding analysts' expectations and achieving revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, payable on September 15th, reflecting a 0.4% yield.

Everett Harris & Co. CA lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 575,435 shares of the information services provider's stock after selling 4,931 shares during the period. Alphabet accounts for about 1.1% of Everett Harris & Co. CA's investment portfolio, making the stock its 20th biggest holding. Everett Harris & Co. CA's holdings in Alphabet were worth $88,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter valued at about $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the first quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 0.5%

Shares of NASDAQ:GOOGL opened at $202.94 on Friday. The stock has a market cap of $2.45 trillion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.36 and a beta of 1.01. The company has a 50 day moving average of $183.65 and a 200-day moving average of $173.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,819 shares of company stock worth $49,796,547. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. KeyCorp raised their price target on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.

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