Avalon Trust Co Sells 39,535 Shares of Alphabet Inc. $GOOG

Avalon Trust Co reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 10.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 340,078 shares of the information services provider’s stock after selling 39,535 shares during the period. Alphabet accounts for about 6.7% of Avalon Trust Co’s holdings, making the stock its 3rd largest holding. Avalon Trust Co’s holdings in Alphabet were worth $97,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its position in shares of Alphabet by 76.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth about $658,000. Financial Advisors Network Inc. grew its stake in Alphabet by 7.7% in the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the last quarter. Finally, Ausdal Financial Partners Inc. grew its stake in Alphabet by 10.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOG shares. Wedbush assumed coverage on shares of Alphabet in a report on Thursday, July 16th. They set an “outperform” rating and a $445.00 target price for the company. KeyCorp set a $445.00 price target on shares of Alphabet in a research report on Friday, July 10th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research note on Monday, June 22nd. Stifel Nicolaus set a $420.00 price objective on Alphabet in a research report on Wednesday, May 20th. Finally, Pivotal Research reaffirmed a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $383.44.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOG opened at $351.37 on Tuesday. Alphabet Inc. has a 1 year low of $187.05 and a 1 year high of $404.47. The company’s 50 day simple moving average is $365.58 and its 200 day simple moving average is $337.07. The stock has a market capitalization of $4.26 trillion, a PE ratio of 26.80, a P/E/G ratio of 1.43 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.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is developing a new AI server chip, “Frozen v2,” designed to run its Gemini models more efficiently, which suggests lower inference costs and stronger AI margins. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Several analysts and market commentators remain bullish ahead of earnings, citing strong Search and Google Cloud growth, along with expectations that Alphabet can beat or at least support current high valuations. Zacks: Can Strong Search and Cloud Growth Drive GOOGL’s Q2 Earnings?
• Positive Sentiment: Investor attention is also being lifted by Berkshire Hathaway’s large Alphabet stake and comments from Warren Buffett, which reinforce confidence in Alphabet as a durable AI and core internet franchise. Motley Fool: Warren Buffett Said He Personally Started Berkshire’s Alphabet Position
• Neutral Sentiment: With Alphabet set to report on July 22, options traders and analysts expect a sizable post-earnings move, underscoring that the stock may stay volatile into the print. Investopedia: Here’s How Much Google Parent Alphabet’s Stock Is Seen Moving After Earnings Wednesday
• Neutral Sentiment: Broader market focus on geopolitical risks and Big Tech earnings is adding a wait-and-see tone, but this is more of a backdrop than a direct driver for Alphabet. Yahoo Finance: US stocks edge down with Iran and earnings season in focus
• Negative Sentiment: New securities-fraud investigations disclosed by law firms could create some overhang, although these are early-stage and not yet tied to any specific financial impact. GlobeNewswire: Securities Fraud Investigation Into Alphabet Inc. Continues

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.