Private Harbour Investment Management & Counsel LLC Sells 1,600 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Harbour Investment Management & Counsel LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,596 shares of the information services provider’s stock after selling 1,600 shares during the period. Alphabet accounts for 4.1% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 7th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Alphabet were worth $3,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in shares of Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Amundi raised its position in shares of Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock worth $5,792,317,000 after purchasing an additional 4,694,621 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $629,008,000. Finally, Geode Capital Management LLC increased its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 3.4 %

Shares of GOOGL stock opened at $145.60 on Friday. Alphabet Inc. has a 12 month low of $145.38 and a 12 month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.77 trillion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock has a 50 day moving average of $175.15 and a 200-day moving average of $176.68.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.55%. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock valued at $21,089,470 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Jefferies Financial Group reduced their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a report on Tuesday. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.