Everett Harris & Co. CA Sells 5,805 Shares of Alphabet Inc. $GOOGL

Key Points

• Everett Harris & Co. CA reduced its Alphabet position by 1.0%, selling 5,805 shares in the second quarter while retaining 550,319 shares valued at approximately $196.7 million.
• Wall Street remains broadly bullish on Alphabet, with a consensus “Buy” rating and an average price target of $420.19; recent targets range from $395 to $460.
• Alphabet reported strong quarterly results, including $9.11 in EPS and $119.8 billion in revenue, beating estimates for both metrics. The company also declared a quarterly dividend of $0.22 per share.

Everett Harris & Co. CA lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 550,319 shares of the information services provider's stock after selling 5,805 shares during the period. Alphabet comprises about 2.4% of Everett Harris & Co. CA's portfolio, making the stock its 10th biggest holding. Everett Harris & Co. CA's holdings in Alphabet were worth $196,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Wealth LLC grew its position in Alphabet by 11.8% during the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock worth $277,696,000 after acquiring an additional 93,293 shares during the last quarter. PFG Investments LLC increased its holdings in Alphabet by 2.6% in the 1st quarter. PFG Investments LLC now owns 89,299 shares of the information services provider's stock worth $25,679,000 after purchasing an additional 2,269 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new position in Alphabet in the fourth quarter valued at about $28,902,000. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Alphabet by 17.1% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 118,966 shares of the information services provider's stock valued at $37,236,000 after purchasing an additional 17,415 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its stake in shares of Alphabet by 66.1% during the fourth quarter. KLCM Advisors Inc. now owns 22,877 shares of the information services provider's stock valued at $7,161,000 after purchasing an additional 9,105 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GOOGL shares. Piper Sandler restated an "overweight" rating and set a $395.00 price target (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. New Street Research raised their price objective on shares of Alphabet from $450.00 to $455.00 and gave the company a "buy" rating in a report on Friday, June 5th. Bank of America lifted their target price on shares of Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Susquehanna reissued a "positive" rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Truist Financial set a $420.00 price target on shares of Alphabet and gave the company a "buy" rating in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $420.19.

Insider Activity

In other news, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares of the company's stock, valued at $9,125,015.20. The trade was a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 451,945 shares of company stock worth $12,382,714. 11.61% of the stock is owned by insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Alphabet Stock Up 1.2%

Alphabet stock opened at $344.82 on Friday. The firm has a market cap of $4.22 trillion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.96 and a beta of 1.24. Alphabet Inc. has a 52-week low of $201.30 and a 52-week high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a 50 day moving average price of $352.00 and a two-hundred day moving average price of $341.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Equities analysts predict that Alphabet Inc. will post 20.51 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is 4.42%.

Alphabet 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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