Saranac Partners Ltd Reduces Stake in Alphabet Inc. $GOOG

Saranac Partners Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 39.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,957 shares of the information services provider’s stock after selling 1,301 shares during the period. Saranac Partners Ltd’s holdings in Alphabet were worth $614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Brighton Jones LLC boosted 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 buying an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its position in Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after purchasing an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Alphabet during the second quarter valued at $658,000. Financial Advisors Network Inc. raised its stake in shares of Alphabet by 7.7% in the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after buying an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. raised its stake in shares of Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock worth $6,618,000 after buying an additional 3,616 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the sale, the director directly owned 18,621 shares of the company’s stock, valued at $6,908,391. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 617 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 226,481 shares of company stock valued at $27,422,061 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. KeyCorp reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. BMO Capital Markets restated an “outperform” rating and set a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Needham & Company LLC set a $400.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. UBS Group reiterated a “neutral” rating and issued a $348.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, May 21st. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $372.65.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Alphabet Price Performance

Shares of Alphabet stock opened at $386.12 on Friday. The stock’s 50-day simple moving average is $341.87 and its 200-day simple moving average is $323.94. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. The company has a market capitalization of $4.68 trillion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.65 and a beta of 1.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is presently 6.41%.

Alphabet 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.