SmartHarvest Portfolios LLC Sells 5,696 Shares of Alphabet Inc. $GOOG

Key Points

• SmartHarvest Portfolios LLC cut its Alphabet stake by 26.4% in Q1, selling 5,696 shares and leaving it with 15,882 shares valued at about $4.56 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus analysts’ $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year.
• The company also raised its quarterly dividend to $0.22 per share from $0.21, while analysts remain broadly bullish with an average price target of $376.78 and a consensus Buy rating.

SmartHarvest Portfolios LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,882 shares of the information services provider's stock after selling 5,696 shares during the period. Alphabet makes up 1.9% of SmartHarvest Portfolios LLC's portfolio, making the stock its 9th biggest position. SmartHarvest Portfolios LLC's holdings in Alphabet were worth $4,556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Kathmere Capital Management LLC boosted its stake in Alphabet by 8.5% during the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares during the period. Baltimore Washington Financial Advisors Inc. increased its holdings in Alphabet by 0.9% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider's stock valued at $53,920,000 after buying an additional 2,009 shares during the period. Gerber Kawasaki Wealth & Investment Management increased its stake in Alphabet by 1.0% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock valued at $86,596,000 after acquiring an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock worth $19,060,000 after buying an additional 4,239 shares in the last quarter. Finally, World Investment Advisors boosted its stake in shares of Alphabet by 8.7% in the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after purchasing an additional 15,280 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $351.28 on Tuesday. The firm has a market capitalization of $4.26 trillion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.43 and a beta of 1.23. The business's 50-day moving average price is $366.70 and its 200-day moving average price is $332.30. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12 month low of $173.88 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the previous year, the business earned $2.81 EPS. The firm's revenue was up 21.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's payout ratio is presently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially debuted in the Dow, replacing Verizon, which is driving index-fund demand and signaling stronger institutional recognition for the stock. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Multiple reports say Alphabet shares are getting a lift from the Dow addition and renewed enthusiasm for large-cap tech and AI exposure. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions
• Positive Sentiment: Analysts and market commentators view the recent pullback in big tech as a potential buying opportunity, especially given Alphabet’s strong cloud and AI momentum. 24/7 Wall St.: Dan Ives Says the $3 Trillion Tech Wipeout Is a Buying Opportunity. Here's His Case
• Neutral Sentiment: News flow also points to strong AI demand at Google, including compute constraints and limited Gemini capacity, which supports long-term growth but may raise near-term execution concerns. Yahoo Finance: Google Limits Meta's AI Access
• Neutral Sentiment: Separately, Waymo’s robotaxi pilot with Uber ended in Phoenix, but the vehicles will remain active for autonomous deliveries with DoorDash, limiting the immediate stock impact. CNBC: Waymo and Uber end robotaxi pilot in Phoenix
• Negative Sentiment: Some articles continue to highlight concerns about Alphabet’s aggressive AI spending, talent losses, and recent underperformance versus peers, which could cap upside if investors focus on margins. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Truist Financial set a $430.00 price target on Alphabet in a research report on Monday, June 1st. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Pivotal Research restated a "buy" rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research note on Monday, June 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $435.00 price objective on shares of Alphabet in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Buy" and an average target price of $376.78.

Insider Activity

In related news, Director Frances Arnold sold 102 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 151,972 shares of company stock worth $5,016,958. 12.99% of the stock is owned by company insiders.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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.