Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Harrington Investments INC

Harrington Investments INC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,420 shares of the information services provider’s stock after selling 313 shares during the period. Alphabet accounts for approximately 2.7% of Harrington Investments INC’s portfolio, making the stock its 10th biggest position. Harrington Investments INC’s holdings in Alphabet were worth $4,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Cassaday & Co Wealth Management LLC lifted its position in Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock valued at $5,341,000 after buying an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC raised its stake in shares of Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock valued at $6,088,000 after acquiring an additional 380 shares during the period. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Alphabet in the 4th quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC boosted its position in shares of Alphabet by 246.2% during the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 4,052 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. UBS Group dropped 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. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. KeyCorp dropped their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Susquehanna reiterated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 3.0%

Shares of Alphabet stock opened at $174.92 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a 50 day moving average of $161.88 and a 200 day moving average of $176.05.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.