Everett Harris & Co. CA Sells 947 Shares of Alphabet Inc. $GOOGL

Everett Harris & Co. CA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 574,488 shares of the information services provider’s stock after selling 947 shares during the quarter. Alphabet makes up approximately 1.3% of Everett Harris & Co. CA’s investment portfolio, making the stock its 15th largest position. Everett Harris & Co. CA’s holdings in Alphabet were worth $101,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Alphabet during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GOOGL shares. China Renaissance increased their price target on Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DZ Bank reiterated a “buy” rating on shares of Alphabet in a report on Thursday, November 20th. Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Cantor Fitzgerald upped their price target on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Jefferies Financial Group lifted their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.65.

Alphabet Trading Up 6.3%

NASDAQ:GOOGL opened at $318.58 on Tuesday. The firm has a 50 day moving average of $263.73 and a 200 day moving average of $215.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $319.48. The stock has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 225,174 shares of company stock worth $58,095,223 in the last three months. Insiders own 11.64% of the company’s stock.

About Alphabet

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.