Dock Street Asset Management Inc. Trims Stock Holdings in Alphabet Inc. $GOOGL

Dock Street Asset Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 61.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,910 shares of the information services provider’s stock after selling 13,945 shares during the quarter. Alphabet comprises about 0.3% of Dock Street Asset Management Inc.’s portfolio, making the stock its 26th biggest holding. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY lifted its stake in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank boosted its position in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, replacing Verizon, which has sparked broad investor buying and index-fund demand. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Several reports note Alphabet’s stock rose on the Dow debut, reflecting renewed investor enthusiasm and momentum around the company’s large-cap tech and AI position. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions
• Positive Sentiment: Jefferies reiterated a Buy rating on Alphabet with a $445 price target, suggesting Wall Street still sees meaningful upside despite the recent pullback. Yahoo Finance: Jefferies Maintain a Buy Rating on Alphabet (GOOGL)
• Neutral Sentiment: Alphabet also gained attention from fresh coverage highlighting its cloud and AI partnerships, including Google Cloud’s collaboration with the Philippine government on AI agents for public services. Yahoo Finance: Alphabet’s Google Cloud Partners with Philippine Government to Deploy AI Agents in Public Services
• Neutral Sentiment: Investors are also weighing concerns that strong AI demand is being constrained by limited compute capacity, which may cap near-term growth even as demand remains high. Reuters: Google limits Meta’s use of its Gemini AI models, FT reports
• Negative Sentiment: Some articles point out that Alphabet has been under pressure recently due to AI-spending concerns and broader weakness in big tech, so the Dow inclusion may be helping offset a weak monthly trend. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Alphabet from $330.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a report on Monday, June 22nd. Evercore lifted their target price on Alphabet from $400.00 to $420.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $445.00 price target (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 617 shares of the firm’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 sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 151,972 shares of company stock worth $5,016,958. Corporate insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $353.55 on Tuesday. Alphabet Inc. has a 1 year low of $172.77 and a 1 year high of $408.61. The stock has a market capitalization of $4.28 trillion, a PE ratio of 26.97, a PEG ratio of 1.44 and a beta of 1.23. 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 stock has a 50-day simple moving average of $369.30 and a 200-day simple moving average of $333.27.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.