Bar Harbor Wealth Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,078 shares of the information services provider’s stock after selling 16,702 shares during the period. Alphabet comprises about 2.0% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 11th largest holding. Bar Harbor Wealth Management’s holdings in Alphabet were worth $33,955,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GOOGL. Symmetry Partners LLC raised its holdings in shares of Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after purchasing an additional 30 shares during the last quarter. Members Trust Co boosted its holdings in Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after purchasing an additional 31 shares during the last quarter. Altfest L J & Co. Inc. grew its position in Alphabet by 0.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock valued at $2,489,000 after purchasing an additional 31 shares in the last quarter. Insight 2811 Inc. grew its position in Alphabet by 1.0% in the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock valued at $978,000 after purchasing an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC increased its stake in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after buying an additional 32 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Guggenheim restated a “buy” rating and set a $450.00 price objective (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. BMO Capital Markets lifted their target price on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Oppenheimer upped their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Sanford C. Bernstein reissued a “market perform” rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Arete Research raised their price target on Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.13.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Some analysts remain constructive on Alphabet’s growth outlook, pointing to rising advertising revenue and AI-driven ad tools as support for further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
- Positive Sentiment: Reports that Alphabet is joining the Dow were viewed as a sign of prestige and long-term institutional support for the stock. Google Parent Alphabet Is Joining the Dow. Time to Buy?
- Positive Sentiment: Apple is reportedly paying Alphabet about $1 billion a year to use Gemini in Siri, highlighting another monetization path for Google’s AI platform even if the deal is smaller than Google’s search-payment arrangement with Apple. Apple Is Paying Google $1 Billion a Year for AI. Here’s Who the Real Winner Is.
- Neutral Sentiment: Wedbush said the recent sell-off in major AI names looks more like short-term investor impatience than a breakdown in the AI trade, suggesting the broader pullback may be a buying opportunity. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
- Neutral Sentiment: Google Finance launched a new app and upgraded portfolio-tracking features, which improve the product offering but are unlikely to move the stock on their own. Google Finance Debuts App and Investment Tracking Capabilities
- Negative Sentiment: Alphabet is facing renewed concern over AI talent departures, including reports of senior researchers leaving for rivals such as Anthropic and OpenAI, which raises questions about execution in Gemini and its broader AI strategy. Alphabet Shares Fall After Report on Further AI Talent Departures
- Negative Sentiment: Google is also drawing criticism for tougher negotiations with publishers over AI content access, potentially worsening relations with media partners already seeing traffic declines from AI search changes. Google looks to bleed publishers with new AI partnerships that would cull their content
- Negative Sentiment: Multiple reports say AI-focused stocks, including Alphabet, are under pressure as investors question whether the “all-in on AI” trade has gone too far in the near term. PLTR, GOOG and MSFT Forecasts – AI Names Struggling at the Moment
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction, the director directly owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 151,523 shares of company stock valued at $4,863,526. Corporate insiders own 11.61% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $337.39 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company’s 50-day moving average is $368.94 and its 200-day moving average is $333.02. The firm has a market capitalization of $4.09 trillion, a PE ratio of 25.74, a P/E/G ratio of 1.44 and a beta of 1.23. Alphabet Inc. has a fifty-two week low of $171.73 and a fifty-two week high of $408.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 6.71%.
About Alphabet
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.
Further Reading
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