Sky Investment Group LLC Has $11.09 Million Position in Alphabet Inc. $GOOG

Sky Investment Group LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,641 shares of the information services provider’s stock after selling 2,114 shares during the quarter. Alphabet accounts for about 1.9% of Sky Investment Group LLC’s investment portfolio, making the stock its 11th biggest position. Sky Investment Group LLC’s holdings in Alphabet were worth $11,085,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its holdings in Alphabet by 38,409.2% during the fourth 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 purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP raised its holdings in shares of Alphabet by 28,482.8% in the 4th 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 in the last quarter. Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth approximately $18,093,665,000. Cardano Risk Management B.V. lifted its position in shares of Alphabet by 850.3% during the 4th quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after buying an additional 15,830,754 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock valued at $132,114,125,000 after buying an additional 8,128,234 shares in the last quarter. Institutional investors and hedge funds 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 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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOG shares. Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Monday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $376.78.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares of the company’s stock, valued at $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold 160,516 shares of company stock valued at $7,344,604 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $346.55 on Wednesday. The business has a fifty day moving average of $365.57 and a 200-day moving average of $331.59. 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 Inc. has a twelve month low of $166.91 and a twelve month high of $404.47. The firm has a market cap of $4.20 trillion, a PE ratio of 26.43, a price-to-earnings-growth 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, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 EPS. On average, equities research analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s 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.