Alphabet Inc. (NASDAQ:GOOGL) Holdings Raised by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 58,598 shares of the information services provider’s stock after buying an additional 4,130 shares during the period. Alphabet makes up 1.8% of K.J. Harrison & Partners Inc’s holdings, making the stock its 10th largest holding. K.J. Harrison & Partners Inc’s holdings in Alphabet were worth $9,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GOOGL. Wealth Group Ltd. boosted its stake in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after acquiring an additional 78 shares in the last quarter. Eagle Capital Management LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $154,716,000. Finally, Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $179.08 on Friday. The company has a fifty day moving average price of $168.70 and a 200 day moving average price of $173.97. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 yield of 0.47%. This is a boost 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 is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GOOGL shares. Jefferies Financial Group cut their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Susquehanna cut their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. BMO Capital Markets restated an “outperform” rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Citizens Jmp upgraded Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Finally, Stifel Nicolaus cut their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.95.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 215,643 shares of company stock valued at $36,330,928. Company insiders own 11.64% 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.