Atalanta Sosnoff Capital LLC Lowers Stake in Alphabet Inc. $GOOG

Atalanta Sosnoff Capital LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,053 shares of the information services provider’s stock after selling 1,469 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Alphabet were worth $5,979,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Imprint Wealth LLC purchased a new position in shares of Alphabet in the 3rd quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $38,000. Towne Trust Company N.A raised its position in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Alphabet in the 4th quarter worth $45,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone-delivery unit Wing expanded into seven more U.S. cities with Walmart, reinforcing that its Other Bets can scale into real businesses and may be more valuable than the market gives them credit for.
• Positive Sentiment: Waymo launched a $29.99 monthly membership program, adding a recurring-revenue layer to its robotaxi business and highlighting rapid growth in paid rides, which investors may see as a meaningful long-term opportunity.
• Positive Sentiment: Several analyst and commentary pieces remain constructive on Alphabet’s AI, cloud, and search setup, with some calling it an AI powerhouse and lifting price targets, which supports the stock’s bullish narrative.
• Positive Sentiment: Google is also expanding its real-estate listings nationwide and continuing to deepen its AI infrastructure and chip strategy, reinforcing multiple growth avenues beyond search advertising.
• Neutral Sentiment: Google filed suit against an alleged Chinese cybercrime group that used AI to scam victims, a move that shows the company is actively defending its platforms, though the stock impact is likely limited unless the issue escalates.
• Neutral Sentiment: Alphabet declined a $2 billion U.S. quantum-computing funding program, saying the terms could slow development; that may be viewed as a strategic choice rather than a major financial event.
• Neutral Sentiment: News that some billionaire investors sold Alphabet in Q1 while others bought more adds to the debate, but it does not change the underlying business fundamentals by itself.
• Negative Sentiment: Some recent coverage continues to focus on worries about rising capital expenditures and AI monetization, which can pressure sentiment if investors fear Alphabet’s AI spending will take longer to pay off.
• Negative Sentiment: Alphabet’s AI Overview feature has also faced renewed controversy, adding another small overhang around search quality and user trust.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The shares were 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 available through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price target on shares of Alphabet in a report on Thursday, April 30th. Wells Fargo & Company reiterated an “overweight” rating and issued a $435.00 price target on shares of Alphabet in a report on Tuesday, June 2nd. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. The Goldman Sachs Group restated a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Finally, Oppenheimer raised their target price on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $376.78.

Alphabet Trading Up 0.4%

Alphabet stock opened at $358.16 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.34 trillion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.22. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The firm’s 50 day moving average price is $357.71 and its two-hundred day moving average price is $329.44.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 earnings per share. On average, research analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

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.