DB Fitzpatrick & Co Inc Reduces Stock Position in Alphabet Inc. $GOOG

DB Fitzpatrick & Co Inc trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 46.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,842 shares of the information services provider’s stock after selling 1,607 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Alphabet were worth $528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Imprint Wealth LLC acquired a new stake in Alphabet in the third quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in Alphabet during the 4th quarter worth $38,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet during the 4th quarter worth $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the 4th quarter worth about $41,000. Finally, Towne Trust Company N.A increased 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 purchasing an additional 34 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GOOG. Pivotal Research reaffirmed a “buy” rating and set a $470.00 price target (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday, June 22nd. The Goldman Sachs Group restated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a research note on Thursday, May 21st. Scotiabank reaffirmed an “outperform” rating and set a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $420.00 target price on Alphabet in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $376.19.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet-backed Anthropic is reportedly nearing a possible IPO, which could highlight the value of Alphabet’s ownership stake and strengthen investor enthusiasm around its AI investments. Anthropic Could Be a $1 Trillion IPO This Fall. These 2 Stocks Already Own a Piece.
• Positive Sentiment: Google Cloud and enterprise AI positioning received another boost as Anthropic expanded support for Google Cloud tools, reinforcing Alphabet’s role in AI infrastructure. Anthropic Strengthens Alphabet Inc. (GOOGL)’s Google Cloud Positioning in Enterprise AI Development
• Positive Sentiment: Alphabet is continuing to launch new AI models, including Gemini Omni Flash and Nano Banana 2 Lite, which could support product adoption and future revenue growth. Google Just Launched 2 New AI Models. What That Means for GOOGL Stock.
• Positive Sentiment: Alphabet was named a “final trade” on CNBC by an investor, adding to recent bullish sentiment from commentators. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC’s ‘Final Trades’
• Neutral Sentiment: Google invested in Proxima Fusion’s €411 million funding round, signaling interest in long-term frontier tech, but the near-term financial impact on Alphabet is limited. Google, RWE back Proxima Fusion in €411 million financing round
• Negative Sentiment: Google’s expanded AI data collection and training policies may raise privacy concerns, which could create regulatory or reputational risk for the stock. If you use Google, you’re training its AI. Here’s how to opt out.
• Negative Sentiment: Reports that some Google employees are leaving for AI rivals suggest competitive pressure in the talent market, even as Alphabet remains a top tech employer. Google’s status as the dream tech job is changing. FOMO over AI salaries is only one reason why.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director owned 18,833 shares in the company, valued at $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160,465 shares of company stock worth $8,020,511. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

GOOG opened at $364.90 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $368.31 and its 200 day moving average price is $333.49. Alphabet Inc. has a fifty-two week low of $173.88 and a fifty-two week high of $404.47. The firm has a market cap of $4.42 trillion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.Alphabet’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is 6.71%.

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.