Everett Harris & Co. CA Trims Stock Holdings in Alphabet Inc. $GOOG

Everett Harris & Co. CA decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,033,942 shares of the information services provider’s stock after selling 18,717 shares during the period. Alphabet accounts for approximately 4.6% of Everett Harris & Co. CA’s holdings, making the stock its 6th biggest holding. Everett Harris & Co. CA’s holdings in Alphabet were worth $360,801,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Alphabet by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,843,415 shares of the information services provider’s stock valued at $504,393,000 after purchasing an additional 41,712 shares during the last quarter. Kelleher Financial Advisors increased its position in shares of Alphabet by 3.6% during the 2nd quarter. Kelleher Financial Advisors now owns 60,645 shares of the information services provider’s stock valued at $10,758,000 after purchasing an additional 2,105 shares during the last quarter. Bouchey Financial Group Ltd raised its holdings in Alphabet by 2.5% during the 2nd quarter. Bouchey Financial Group Ltd now owns 10,882 shares of the information services provider’s stock valued at $1,930,000 after buying an additional 265 shares during the period. Apex Wealth Management LLC lifted its position in Alphabet by 5.3% in the second quarter. Apex Wealth Management LLC now owns 1,371 shares of the information services provider’s stock worth $243,000 after buying an additional 69 shares during the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its position in Alphabet by 564.3% in the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 40,731 shares of the information services provider’s stock worth $7,225,000 after buying an additional 34,600 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 1.5%

Shares of NASDAQ GOOG opened at $287.43 on Thursday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $292.36. The firm has a market capitalization of $3.47 trillion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.86 and a beta of 1.05. The stock has a 50 day moving average price of $256.07 and a 200 day moving average price of $208.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. KeyCorp reissued an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. HSBC reissued a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research upped their target price on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Piper Sandler increased their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.