Harbour Investments Inc. Sells 2,566 Shares of Alphabet Inc. $GOOGL

Key Points

• Harbour Investments Inc. trimmed its Alphabet stake by 4.4% in the fourth quarter, selling 2,566 shares and ending with 55,794 shares valued at about $17.46 million.
• Alphabet continues to draw bullish analyst attention, with several firms raising price targets; MarketBeat shows an average rating of Moderate Buy and an average target of $413.13.
• The company reported strong quarterly results, beating both EPS and revenue expectations, and it also increased its quarterly dividend to $0.22 per share.

Harbour Investments Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,794 shares of the information services provider's stock after selling 2,566 shares during the quarter. Harbour Investments Inc.'s holdings in Alphabet were worth $17,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PMV Capital Advisers LLC bought a new position in shares of Alphabet in the fourth quarter worth about $38,000. Kentucky Trust Co lifted its holdings in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock worth $53,000 after acquiring an additional 100 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of Alphabet in the third quarter worth about $53,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Alphabet in the third quarter worth about $53,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $69,000. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GOOGL shares. Robert W. Baird increased their target price on shares of Alphabet from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. CICC Research increased their target price on shares of Alphabet from $388.00 to $407.91 and gave the stock an "outperform" rating in a report on Friday, May 1st. Wells Fargo & Company reissued an "overweight" rating and issued a $435.00 target price (up from $427.00) on shares of Alphabet in a report on Wednesday, May 20th. Evercore increased their target price on shares of Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. Finally, China Renaissance increased their target price on shares of Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $413.13.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s long-term AI opportunity remains a major bullish theme, with analysts arguing the company’s heavy investment could support future revenue growth and strengthen its competitive position in search, cloud, and AI. Alphabet: CapEx Pressure Is Real, But The Long-Term AI Opportunity Is Bigger
• Positive Sentiment: Alphabet continues to benefit from broader AI enthusiasm, including reports that Apple is turning to Google for help with its AI overhaul and that Google’s cloud and AI capabilities are being tied to major customer wins and partnerships. Apple tries again on AI, turns to Google for help
• Positive Sentiment: Waymo remains a strategic asset for Alphabet, with new robotaxi-related developments highlighting the unit’s leadership in autonomous driving and potential to unlock long-term value. Uber, Wayve and Waymo are headed towards a robotaxi showdown in London
• Neutral Sentiment: Alphabet is drawing investor attention after its latest earnings results showed strong quarterly performance, including earnings and revenue that beat expectations, which helps support the stock’s long-term valuation. Alphabet Inc. (GOOGL) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Alphabet’s dividend and other capital-return details are also getting attention, but these are unlikely to be the main driver of the stock’s move today. Google to pay dividends next week; Here's how much 100 GOOGL shares will earn
• Negative Sentiment: Shares are sliding because investors appear worried that Alphabet’s expanding AI spending could pressure margins and require more capital than expected before those investments pay off. What's Going On With Alphabet Stock?
• Negative Sentiment: Recent market-wide volatility has also weighed on megacap tech stocks, adding to the weakness in Alphabet despite the company’s long-term AI story. Alphabet (GOOGL) Stock Slides as Market Rises: Facts to Know Before You Trade

Alphabet Stock Down 1.4%

Shares of NASDAQ GOOGL opened at $363.31 on Tuesday. The company has a 50 day simple moving average of $354.35 and a 200 day simple moving average of $328.67. The firm has a market cap of $4.40 trillion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is 6.41%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the sale, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company's stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 193,016 shares of company stock worth $17,282,549 over the last quarter. 11.61% of the stock is currently owned by corporate insiders.

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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