Everett Harris & Co. CA Cuts Stock Position in Alphabet Inc. $GOOGL

Everett Harris & Co. CA trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 550,319 shares of the information services provider’s stock after selling 5,805 shares during the quarter. Alphabet comprises about 2.4% of Everett Harris & Co. CA’s holdings, making the stock its 10th biggest position. Everett Harris & Co. CA’s holdings in Alphabet were worth $196,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Wealth Advisors LLC grew its stake in shares of Alphabet by 6.0% in the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after buying an additional 27 shares during the period. Rockbridge Investment Management LCC increased its position in Alphabet by 0.5% in the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock valued at $1,570,000 after buying an additional 27 shares in the last quarter. Ruggaard & Associates LLC raised its stake in Alphabet by 0.9% during the 1st quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after buying an additional 27 shares during the period. Cadia Private Client LLC raised its stake in Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after buying an additional 28 shares during the period. Finally, Evansbrook LLC boosted its holdings in Alphabet by 0.3% in the first quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock worth $2,738,000 after acquiring an additional 28 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet News Summary

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.

Alphabet Stock Performance

Shares of GOOGL stock opened at $344.82 on Friday. The firm has a 50-day moving average of $352.00 and a 200-day moving average of $341.37. The company has a market cap of $4.22 trillion, a P/E ratio of 17.32, a P/E/G ratio of 0.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. Alphabet Inc. has a one year low of $201.30 and a one year 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. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion for the quarter, compared to analysts’ expectations of $117.07 billion. Equities research analysts forecast that Alphabet Inc. will post 20.51 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 4.42%.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. Wedbush reiterated an “outperform” rating and issued a $445.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Guggenheim reissued a “buy” rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, UBS Group decreased their price target on shares of Alphabet from $400.00 to $379.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $420.19.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction 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 transaction, the director owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 451,945 shares of company stock valued at $12,382,714. Insiders own 11.61% of the company’s stock.

Alphabet 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.