Private Harbour Investment Management & Counsel LLC Sells 450 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Harbour Investment Management & Counsel LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the first quarter, HoldingsChannel reports. The fund owned 21,395 shares of the information services provider’s stock after selling 450 shares during the period. Alphabet comprises about 3.5% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 9th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Alphabet were worth $3,229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. RWQ Financial Management Services Inc. grew its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management grew its position in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares in the last quarter. Robbins Farley grew its position in Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Nebula Research & Development LLC bought a new position in Alphabet in the fourth quarter valued at $787,000. Finally, Quantum Financial Advisors LLC grew its position in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOGL. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Wolfe Research lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Truist Financial lifted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $193.26.

Insider Activity

In other news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares in the company, valued at approximately $7,365,523.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,958 shares of company stock worth $22,383,553. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $179.63 on Friday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $180.85. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $170.05 and a two-hundred day simple moving average of $152.56. The stock has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

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.