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

SmartHarvest Portfolios LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% in the second quarter, HoldingsChannel reports. The fund owned 25,208 shares of the information services provider’s stock after selling 1,600 shares during the period. Alphabet accounts for approximately 2.9% of SmartHarvest Portfolios LLC’s investment portfolio, making the stock its 4th largest holding. SmartHarvest Portfolios LLC’s holdings in Alphabet were worth $9,008,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the 4th quarter valued at $32,000. EMC Capital Management acquired a new stake in Alphabet during the fourth quarter valued at $33,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet during the fourth quarter valued at $38,000. Bard Associates Inc. purchased a new position in Alphabet in the fourth quarter valued at $52,000. Finally, iSAM Funds UK Ltd purchased a new position in Alphabet in the third quarter valued at $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 451,945 shares of company stock worth $12,382,714 over the last three months. 11.61% of the stock is owned by insiders.

Alphabet Stock Up 1.2%

GOOGL stock opened at $344.82 on Friday. The stock has a market capitalization of $4.22 trillion, a P/E ratio of 17.32, a P/E/G ratio of 0.97 and a beta of 1.24. The firm has a 50-day simple moving average of $352.00 and a 200-day simple moving average of $341.37. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $201.30 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Equities analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s payout ratio is 4.42%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Alphabet from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Zacks Research lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Six analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $420.19.

Alphabet Company 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.