Everett Harris & Co. CA Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Everett Harris & Co. CA decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,052,659 shares of the information services provider's stock after selling 15,596 shares during the period. Alphabet accounts for about 4.1% of Everett Harris & Co. CA's portfolio, making the stock its 6th largest holding. Everett Harris & Co. CA's holdings in Alphabet were worth $320,687,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after purchasing an additional 20,855 shares during the period. Phoenix Financial Ltd. grew its position in shares of Alphabet by 0.5% during the 4th quarter. Phoenix Financial Ltd. now owns 779,014 shares of the information services provider's stock worth $148,357,000 after purchasing an additional 4,225 shares in the last quarter. Scotia Capital Inc. increased its holdings in shares of Alphabet by 0.5% during the fourth quarter. Scotia Capital Inc. now owns 1,434,764 shares of the information services provider's stock worth $273,256,000 after purchasing an additional 7,296 shares during the period. Finally, LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,219 shares of company stock worth $49,474,273. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $197.28 on Friday. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company's fifty day moving average is $181.28 and its 200 day moving average is $174.68. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Company 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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