Harbor Investment Advisory LLC Sells 9,023 Shares of Alphabet Inc. $GOOGL

Key Points

• Harbor Investment Advisory LLC trimmed its Alphabet stake by 5.0% in the first quarter, selling 9,023 shares and ending with 171,347 shares worth about $49.3 million. Alphabet remains the firm’s third-largest holding, making up roughly 3.9% of its portfolio.
• Institutional ownership remains strong, with major holders like Vanguard, State Street, Geode Capital, Norges Bank, and Bank of America all maintaining large Alphabet positions. Overall, hedge funds and other institutional investors own about 40.03% of the stock.
• Alphabet continues to draw bullish analyst support despite some mixed headlines, with a consensus rating of “Moderate Buy” and a consensus target price of $413.54. Recent quarterly results also beat expectations, and the company raised its dividend slightly to $0.22 per share.

Harbor Investment Advisory LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 171,347 shares of the information services provider's stock after selling 9,023 shares during the period. Alphabet comprises approximately 3.9% of Harbor Investment Advisory LLC's investment portfolio, making the stock its 3rd biggest position. Harbor Investment Advisory LLC's holdings in Alphabet were worth $49,273,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. State Street Corp raised its stake in shares of Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after buying an additional 4,008,374 shares during the period. Geode Capital Management LLC lifted its position in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after buying an additional 2,666,676 shares in the last quarter. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $30,534,239,000. Finally, Bank of America Corp DE grew its stake in Alphabet by 4.9% in the 4th quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after acquiring an additional 3,218,852 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is drawing bullish sentiment from investors and analysts as a top AI name, with one report highlighting billionaire Jeffrey Talpins’ view that GOOGL is among the best AI stocks to own.
• Positive Sentiment: Google-backed Proxima Fusion raised €411 million in a major financing round, underscoring Alphabet’s continued involvement in frontier energy and AI-adjacent innovation. Reuters article
• Positive Sentiment: Coverage focused on Google Cloud suggests the segment is increasingly seen as a key growth engine for Alphabet, reinforcing the market’s confidence in its AI and cloud strategy. Trefis article
• Positive Sentiment: Alphabet continues to be highlighted in “final trades” and stock-picking segments, which can support near-term sentiment by keeping the name in focus for traders. Benzinga article
• Neutral Sentiment: Alphabet announced its Made by Google Pixel event for August 12, which keeps hardware and consumer-device expectations in view but is not a major immediate catalyst.
• Neutral Sentiment: Articles comparing Alphabet with Palantir and Taiwan Semiconductor mostly frame GOOGL as a benchmark AI and cloud leader rather than signaling a direct new catalyst.
• Negative Sentiment: TechCrunch reported that Google is expanding AI training to include more user-uploaded media by default unless users opt out, which could revive privacy concerns and regulatory scrutiny. TechCrunch article
• Negative Sentiment: BusinessInsider noted that Waymo faces growing competition in robotaxi usage from Zoox, reminding investors that Alphabet’s autonomous-driving efforts still face competitive pressure. BusinessInsider article

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Royal Bank Of Canada set a $425.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $390.00 price target (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Susquehanna reiterated a "positive" rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price objective (up from $375.00) on shares of Alphabet in a research note on Tuesday, June 30th. Finally, Cantor Fitzgerald increased their target price on Alphabet from $395.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.54.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company's stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock worth $8,020,511 over the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $367.03 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $4.45 trillion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24. The firm's 50-day moving average is $372.05 and its two-hundred day moving average is $335.51. Alphabet Inc. has a 12 month low of $172.77 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Analysts predict that Alphabet Inc. will post 14.32 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 issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.