Harbor Investment Advisory LLC Sells 6,246 Shares of Alphabet Inc. (NASDAQ:GOOG)

Harbor Investment Advisory LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,056 shares of the information services provider's stock after selling 6,246 shares during the quarter. Alphabet makes up 1.3% of Harbor Investment Advisory LLC's investment portfolio, making the stock its 12th largest position. Harbor Investment Advisory LLC's holdings in Alphabet were worth $13,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Alphabet by 5.9% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 1,800 shares of the information services provider's stock valued at $281,000 after purchasing an additional 100 shares during the period. Inspirion Wealth Advisors LLC lifted its stake in shares of Alphabet by 1.8% in the 1st quarter. Inspirion Wealth Advisors LLC now owns 14,351 shares of the information services provider's stock valued at $2,242,000 after purchasing an additional 256 shares during the period. Gradient Investments LLC lifted its stake in shares of Alphabet by 9.4% in the 1st quarter. Gradient Investments LLC now owns 479,481 shares of the information services provider's stock valued at $74,909,000 after purchasing an additional 41,133 shares during the period. Arlington Financial Advisors LLC lifted its stake in shares of Alphabet by 2.4% in the 1st quarter. Arlington Financial Advisors LLC now owns 27,734 shares of the information services provider's stock valued at $4,333,000 after purchasing an additional 644 shares during the period. Finally, Divergent Planning LLC lifted its stake in shares of Alphabet by 27.7% in the 1st quarter. Divergent Planning LLC now owns 1,345 shares of the information services provider's stock valued at $214,000 after purchasing an additional 292 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now owns 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,770 shares of company stock worth $32,036,638. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $2.04 during trading hours on Thursday, hitting $171.43. The company's stock had a trading volume of 13,074,291 shares, compared to its average volume of 20,266,866. The business has a 50 day moving average price of $161.29 and a two-hundred day moving average price of $176.14. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.08 trillion, a PE ratio of 21.30, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

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.