Alphabet Inc. $GOOGL is SmartHarvest Portfolios LLC’s 4th Largest Position

SmartHarvest Portfolios LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,808 shares of the information services provider’s stock after selling 1,955 shares during the quarter. Alphabet comprises approximately 3.2% of SmartHarvest Portfolios LLC’s portfolio, making the stock its 4th biggest holding. SmartHarvest Portfolios LLC’s holdings in Alphabet were worth $7,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AA Financial Advisors LLC lifted its position in shares of Alphabet by 13.6% during the first quarter. AA Financial Advisors LLC now owns 11,149 shares of the information services provider’s stock worth $3,206,000 after acquiring an additional 1,337 shares in the last quarter. Falcon Wealth Planning raised its stake in shares of Alphabet by 12.6% during the 1st quarter. Falcon Wealth Planning now owns 12,103 shares of the information services provider’s stock valued at $3,480,000 after purchasing an additional 1,359 shares during the period. Independent Wealth Network Inc. raised its stake in shares of Alphabet by 2.3% during the 1st quarter. Independent Wealth Network Inc. now owns 4,104 shares of the information services provider’s stock valued at $1,180,000 after purchasing an additional 91 shares during the period. Verus Financial Partners Inc. lifted its holdings in Alphabet by 23.8% during the 1st quarter. Verus Financial Partners Inc. now owns 3,367 shares of the information services provider’s stock worth $968,000 after purchasing an additional 648 shares in the last quarter. Finally, LifeWealth Investments LLC boosted its stake in Alphabet by 5.2% in the 1st quarter. LifeWealth Investments LLC now owns 10,082 shares of the information services provider’s stock worth $2,899,000 after purchasing an additional 496 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.1%

Shares of GOOGL opened at $361.21 on Thursday. Alphabet Inc. has a 1 year low of $172.77 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. The stock has a 50 day simple moving average of $370.08 and a two-hundred day simple moving average of $333.88. The firm has a market cap of $4.38 trillion, a P/E ratio of 27.55, a P/E/G ratio of 1.53 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,465 shares of company stock valued at $8,020,511. 11.61% of the stock is currently owned by insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s addition to the Dow Jones Industrial Average is boosting visibility and may increase index-related demand for GOOGL. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Google’s Nano Banana 2 Lite launch could strengthen its AI product lineup by offering a faster, cheaper creation tool. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: Visa and Google signing onto OpenUSD expands Alphabet’s footprint in digital payments infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Neutral Sentiment: Recent insider stock sales by Alphabet directors and executives appear routine and are not large enough on their own to change the investment thesis. Director Frances Arnold sold 112 shares of Alphabet stock
• Negative Sentiment: A Swedish court ordered Google to pay damages in an antitrust case, reinforcing legal risk around its shopping and search practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons
• Negative Sentiment: UK regulators are moving against app-store fees and payment restrictions, which could pressure Google’s app platform economics. UK targets Apple, Google app store fees for developers

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a report on Monday, May 4th. Evercore raised their price objective on shares of Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Robert W. Baird boosted their price objective on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $390.00 price objective (up from $345.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, BNP Paribas Exane upped their target price on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $413.90.

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.