Private Harbour Investment Management & Counsel LLC Sells 1,335 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Harbour Investment Management & Counsel LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,261 shares of the information services provider’s stock after selling 1,335 shares during the period. Alphabet makes up about 3.1% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 9th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Alphabet were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in Alphabet by 35.3% in the first quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 2,129 shares of the information services provider’s stock valued at $329,000 after buying an additional 556 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its holdings in Alphabet by 4.1% in the first quarter. Walkner Condon Financial Advisors LLC now owns 19,983 shares of the information services provider’s stock valued at $3,090,000 after buying an additional 783 shares during the last quarter. Eagle Strategies LLC increased its holdings in Alphabet by 6.3% in the first quarter. Eagle Strategies LLC now owns 9,673 shares of the information services provider’s stock valued at $1,496,000 after buying an additional 575 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Alphabet by 3.0% in the first quarter. Oppenheimer & Co. Inc. now owns 468,308 shares of the information services provider’s stock valued at $72,419,000 after buying an additional 13,770 shares during the last quarter. Finally, Vantage Point Financial LLC increased its holdings in Alphabet by 19.7% in the first quarter. Vantage Point Financial LLC now owns 4,337 shares of the information services provider’s stock valued at $671,000 after buying an additional 715 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 216,195 shares of company stock worth $35,764,898. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $178.53 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.17 trillion, a P/E ratio of 19.90, a PEG ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a 50-day moving average price of $166.45 and a 200 day moving average price of $174.52.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.95.

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.