Alphabet Inc. $GOOGL Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,602 shares of the information services provider’s stock after selling 3,996 shares during the period. Alphabet makes up approximately 1.6% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 10th biggest position. K.J. Harrison & Partners Inc’s holdings in Alphabet were worth $9,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $50,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.8%

Shares of NASDAQ:GOOGL opened at $276.41 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $292.01. The company has a market capitalization of $3.34 trillion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a fifty day moving average price of $257.24 and a two-hundred day moving average price of $208.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $306.00 target price (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Citigroup reissued a “buy” rating and issued a $343.00 price objective (up from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Robert W. Baird increased their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 221,796 shares of company stock valued at $53,983,001 in the last three months. Company insiders own 11.55% of the company’s stock.

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.