K.J. Harrison & Partners Inc Has $6.50 Million Stock Holdings in Alphabet Inc. $GOOG

K.J. Harrison & Partners Inc decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 61.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 22,673 shares of the information services provider’s stock after selling 35,525 shares during the quarter. Alphabet makes up 1.1% of K.J. Harrison & Partners Inc’s holdings, making the stock its 22nd largest holding. K.J. Harrison & Partners Inc’s holdings in Alphabet were worth $6,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Imprint Wealth LLC bought a new position in Alphabet in the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $41,000. Finally, Towne Trust Company N.A grew its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction 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 sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $358.71 on Thursday. Alphabet Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The company has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.55 and a beta of 1.23. The company has a 50-day simple moving average of $369.48 and a 200 day simple moving average of $334.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.81 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, said it plans to expand driverless rides to four more major cities this year, a sign that Alphabet’s self-driving business is scaling beyond its current markets. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Google’s SynthID deepfake-detection system was used to debunk a high-profile AI-generated hoax image, highlighting the practical value of Alphabet’s AI safety tools. Google’s deepfake detector system used to debunk McConnell hoax pic
• Positive Sentiment: Several recent articles continued to frame Alphabet as a beneficiary of the AI infrastructure boom, with Google Cloud and AI demand seen as supporting revenue growth and long-term earnings power. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Investor commentary has also remained constructive after strong recent earnings, with one analysis arguing Alphabet is on track to sustain “Rule of 40” type growth and healthy margins. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy
• Positive Sentiment: Berkshire Hathaway’s reported $10 billion private placement in Alphabet continued to draw attention and may support confidence in GOOG’s long-term value. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Several market recap and valuation pieces discussed Alphabet alongside other mega-cap AI leaders, but these were mostly commentary rather than new business developments. Three Most Valuable Companies at $13 Trillion: Buy, Sell, or Hold
• Negative Sentiment: Trading-data articles highlighted recent weakness in GOOG, including heavier-than-broad-market selling and reports of significant insider selling over the past six months, which can weigh on sentiment. GOOGL stock is down 3% today. Here’s what we see in our data.

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Freedom Capital cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Finally, Scotiabank reiterated an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $376.19.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.