Equitable Trust Co. Sells 5,020 Shares of Alphabet Inc. $GOOGL

Equitable Trust Co. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 244,417 shares of the information services provider’s stock after selling 5,020 shares during the period. Alphabet makes up 3.2% of Equitable Trust Co.’s portfolio, making the stock its 4th largest holding. Equitable Trust Co.’s holdings in Alphabet were worth $70,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Wealth LLC increased its holdings in shares of Alphabet by 11.8% in the 4th quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after purchasing an additional 93,293 shares during the period. World Investment Advisors boosted its holdings in shares of Alphabet by 9.2% during the fourth quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock worth $86,000,000 after purchasing an additional 23,107 shares during the period. PFG Investments LLC grew its position in Alphabet by 2.6% during the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock valued at $25,679,000 after purchasing an additional 2,269 shares in the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in Alphabet during the fourth quarter valued at approximately $28,902,000. Finally, Private Advisory Group LLC grew its position in Alphabet by 12.2% during the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after purchasing an additional 2,678 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $445.00 target price (up from $425.00) on shares of Alphabet in a research report on Monday, June 1st. BMO Capital Markets restated an “outperform” rating and set a $455.00 price target (up from $435.00) on shares of Alphabet in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Bank of America upped their price target on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company reduced their price objective on Alphabet from $435.00 to $416.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $414.11.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Wall Street remains broadly bullish on Alphabet, with multiple reports citing strong cloud growth, AI-driven momentum in Search and YouTube, and price targets still above current trading levels. Article Title
• Positive Sentiment: Analysts say Alphabet could post a strong Q2, helped by Google Cloud strength and the value of its Anthropic stake, which may support upside if earnings beat expectations. Article Title
• Neutral Sentiment: Investors are also positioning for Alphabet’s upcoming earnings report, with options traders expecting a sizable move, indicating that the stock may stay volatile into the release. Article Title
• Negative Sentiment: Bloomberg-reported delays to Gemini 3.5 Pro have sparked fears that Google is lagging in AI, with concerns that the model’s coding performance fell short of internal goals. Article Title
• Negative Sentiment: Alphabet is facing added regulatory pressure after the EU ordered it to open Android and search data to rival AI companies, and a San Francisco order to remove “nudify” apps from app stores adds to the broader legal overhang. Article Title
• Negative Sentiment: Securities-fraud investigation headlines are creating an additional near-term overhang, even though these are still allegations and not a proven finding of wrongdoing. Article Title

Alphabet Price Performance

Shares of Alphabet stock opened at $346.77 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $368.89 and a 200-day simple moving average of $338.14. The stock has a market capitalization of $4.20 trillion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.44 and a beta of 1.24. Alphabet Inc. has a 1-year low of $183.71 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, sell-side analysts expect that Alphabet Inc. will post 14.33 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is owned by corporate insiders.

About Alphabet

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.