Campbell Newman Asset Management Inc. Has $5.71 Million Stock Position in Alphabet Inc. $GOOG

Campbell Newman Asset Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 44.3% during the first quarter, HoldingsChannel.com reports. The firm owned 19,888 shares of the information services provider’s stock after selling 15,840 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Alphabet were worth $5,705,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GOOG. Auto Owners Insurance Co lifted its holdings in shares of Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after buying an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP increased its holdings in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after buying an additional 111,699,704 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the fourth quarter worth approximately $18,093,665,000. Cardano Risk Management B.V. raised its position in Alphabet by 850.3% during the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock valued at $5,551,938,000 after acquiring an additional 15,830,754 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, a move that should boost its visibility and could support index-fund demand. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average
• Positive Sentiment: Analysts continued to point to Alphabet’s strong AI infrastructure demand and Google Cloud growth as reasons for long-term upside. Alphabet Rides on Accelerating AI Infrastructure Demand: What’s Ahead?
• Neutral Sentiment: Alphabet also announced a $75 million AI research partnership with film studio A24, underscoring continued experimentation with new AI use cases. Google DeepMind signs AI research deal with film studio A24
• Negative Sentiment: Investor sentiment weakened after reports that another top AI scientist, John Jumper, left DeepMind for Anthropic, adding to fears of an AI brain drain. Google’s YouTube settles with plaintiff ahead of second California trial over social media harm to children, attorneys say
• Negative Sentiment: Broader market coverage highlighted worries about Alphabet’s heavy AI capital spending and the dilution risk tied to its large equity raise, which has pressured the stock. Alphabet Slides as AI Funding Plan Fuels Dilution Worries

Analysts Set New Price Targets

Several research firms have commented on GOOG. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Scotiabank restated an “outperform” rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Needham & Company LLC set a $400.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, March 13th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned 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 an average target price of $376.78.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,516 shares of company stock worth $7,344,604 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.6%

NASDAQ GOOG opened at $346.55 on Wednesday. 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 50-day simple moving average of $365.57 and a 200 day simple moving average of $331.59. Alphabet Inc. has a twelve month low of $166.91 and a twelve month high of $404.47. The stock has a market cap of $4.20 trillion, a PE ratio of 26.43, a PEG ratio of 1.49 and a beta of 1.22.

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

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 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.