Harbour Wealth Management Group Inc. Sells 2,429 Shares of Alphabet Inc. $GOOG

Harbour Wealth Management Group Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,266 shares of the information services provider’s stock after selling 2,429 shares during the period. Alphabet makes up about 1.4% of Harbour Wealth Management Group Inc.’s portfolio, making the stock its 18th largest position. Harbour Wealth Management Group Inc.’s holdings in Alphabet were worth $1,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Kathmere Capital Management LLC grew its holdings in Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock worth $9,381,000 after buying an additional 2,341 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in Alphabet by 0.9% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 221,391 shares of the information services provider’s stock valued at $53,920,000 after buying an additional 2,009 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its stake in Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock valued at $86,596,000 after acquiring an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock valued at $19,060,000 after acquiring an additional 4,239 shares in the last quarter. Finally, World Investment Advisors grew its stake in shares of Alphabet by 8.7% in the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after acquiring an additional 15,280 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will replace Verizon in the Dow, a move that can trigger index-related buying and highlights the company’s importance in large-cap tech. WSJ article
• Positive Sentiment: Analysts continue to point to Alphabet’s strong AI and cloud position, including rapid Google Cloud growth and rising enterprise demand for AI infrastructure. Zacks article
• Neutral Sentiment: YouTube settled a youth mental health lawsuit ahead of a broader social media trial, removing one legal overhang but not changing the core investment story. Reuters article
• Negative Sentiment: Several reports say key Gemini researchers are leaving Google for rivals like Anthropic, reinforcing investor concerns about AI talent retention. TechCrunch article
• Negative Sentiment: Google reportedly delayed the Gemini 3.5 Pro release to July, which may raise questions about execution in the AI race. TipRanks article
• Negative Sentiment: Some commentary also points to broader pressure on Alphabet from an AI selloff and worries that Google’s core search dominance could face more competition in the AI era. CNBC article

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Raymond James Financial restated a “strong-buy” rating and set a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Pivotal Research reissued a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Finally, TD Cowen boosted their price objective on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $376.78.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the sale, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,516 shares of company stock worth $7,344,604. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.3%

Shares of GOOG stock opened at $344.91 on Thursday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.18 trillion, a P/E ratio of 26.31, a PEG ratio of 1.48 and a beta of 1.22. The company has a 50 day moving average of $366.09 and a 200-day moving average of $331.78. Alphabet Inc. has a 12-month low of $168.56 and a 12-month high of $404.47.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. Alphabet’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.