Alphabet Inc. $GOOG is Chemung Canal Trust Co.’s 5th Largest Position

Chemung Canal Trust Co. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 10.7% during the fourth quarter, Holdings Channel reports. The fund owned 53,665 shares of the information services provider’s stock after selling 6,455 shares during the period. Alphabet comprises approximately 3.3% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 5th biggest position. Chemung Canal Trust Co.’s holdings in Alphabet were worth $16,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Edgestream Partners L.P. grew its position in Alphabet by 73.9% during the second quarter. Edgestream Partners L.P. now owns 16,696 shares of the information services provider’s stock valued at $2,962,000 after buying an additional 7,095 shares during the period. Quantbot Technologies LP increased its holdings in Alphabet by 142.9% during the second quarter. Quantbot Technologies LP now owns 31,646 shares of the information services provider’s stock valued at $5,614,000 after buying an additional 18,618 shares during the last quarter. Westerkirk Capital Inc. purchased a new stake in Alphabet during the second quarter valued at approximately $8,687,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Alphabet by 330.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock worth $707,691,000 after acquiring an additional 3,062,590 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the sale, the chief executive officer owned 2,818,524 shares of the company’s stock, valued at approximately $856,605,814.08. This trade represents a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares in the company, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,092,234 shares of company stock valued at $112,487,971. Insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google introduced Veo 3.1 Lite, a lower‑cost video AI model (same speed as Veo 3.1 Fast but at roughly half the cost) — this can broaden developer adoption, increase Google Cloud inference volume and improve monetization of AI services. Article Title
• Positive Sentiment: Alphabet rolled out Lyria 3 Pro for longer AI‑generated music tracks (up to 3 minutes), expanding its creative AI product stack and potential content‑creation revenue/use cases. Article Title
• Positive Sentiment: Wall Street remains constructive on Alphabet’s AI/cloud opportunity: analysts highlight strong cloud growth, big backlog and high price targets — supportive background for multiple‑quarter upside. Article Title
• Neutral Sentiment: Google researchers published a paper showing quantum computers may reduce resources needed to break ECDLP‑256 (bitcoin encryption) by ~20x — underscores Google’s R&D leadership but has limited direct revenue impact for Alphabet. Article Title
• Neutral Sentiment: GOOG’s weight in major ETFs (QQQ, VTI, VOO) means passive/ETF flows amplify moves — gains in broader tech/AI names helped bid the stock. Article Title
• Negative Sentiment: Legal/regulatory headlines remain a drag: coverage of a social‑media addiction verdict and related lawsuits has created headline risk and prompted caution among some investors (appeals expected). Article Title Article Title
• Negative Sentiment: Publishers reported traffic/margin pressure from Google search changes (e.g., Future Plc margin warning), highlighting potential downstream ad‑revenue and partnership frictions. Article Title
• Negative Sentiment: Regulatory scrutiny continues globally (e.g., Indonesian summons over child social media curbs), a reminder of policy risks that can create episodic volatility. Article Title

Alphabet Stock Performance

GOOG opened at $286.71 on Wednesday. The firm has a market cap of $3.47 trillion, a P/E ratio of 26.52, a PEG ratio of 1.60 and a beta of 1.10. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $350.15. The company has a 50 day simple moving average of $311.08 and a two-hundred day simple moving average of $296.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. During the same period in the prior year, the company posted $2.15 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Tuesday, January 20th. Piper Sandler restated an “overweight” rating and issued a $395.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Canaccord Genuity Group raised their target price on Alphabet from $330.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Wedbush reiterated an “outperform” rating and set a $370.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $375.00 price target on shares of Alphabet in a report on Thursday, January 15th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $345.71.

Alphabet Company Profile

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.