Choate Investment Advisors Sells 2,572 Shares of Alphabet Inc. $GOOG

Choate Investment Advisors reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,127 shares of the information services provider’s stock after selling 2,572 shares during the quarter. Alphabet makes up approximately 1.4% of Choate Investment Advisors’ holdings, making the stock its 12th biggest position. Choate Investment Advisors’ holdings in Alphabet were worth $69,703,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOG. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Towne Trust Company N.A grew its stake in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Winnow Wealth LLC bought a new position in shares of Alphabet in the third quarter valued at $63,000. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of Alphabet by 29.0% in the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after buying an additional 58 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet expanded its collaboration with Google Cloud and Lovable in a multi-year deal, reinforcing demand for Google Cloud infrastructure and AI tools. Lovable Expands Collaboration With Google Cloud to Scale AI-Powered Software Creation
• Positive Sentiment: Multiple reports highlighted strong investor appetite for Alphabet’s AI expansion, including an upsized equity raise to $84.75 billion and Berkshire Hathaway’s planned $10 billion participation, which signals outside confidence in the company’s AI strategy. Alphabet to raise $84.75 billion in upsized equity offering to fund AI ambitions
• Positive Sentiment: Alphabet said its Gemini AI app has reached 900 million users, underscoring momentum in its consumer AI products and supporting the long-term growth story. Alphabet’s Gemini AI App Surges to 900 Million Users
• Neutral Sentiment: Analysts remain broadly constructive, with several firms reiterating buy ratings and price targets around the low-to-mid $400s, suggesting Wall Street still sees upside despite recent volatility. Google to See Variable Margins, Cloud Segment Growth Through 2028, UBS Says
• Negative Sentiment: UK regulators imposed new conduct requirements on Google Search, including letting publishers opt out of AI search features and model training, which could weaken the economics of AI Overviews and increase regulatory pressure. UK regulator enforces new competition requirements for Google search
• Negative Sentiment: Investors also appear uneasy about the scale of Alphabet’s AI spending plans, since the huge capital raise raises dilution concerns and suggests heavy infrastructure costs ahead. Alphabet plans to raise $80 billion to pay for AI buildout

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 193,016 shares of company stock worth $17,282,549. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. TD Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday, May 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $376.00.

Alphabet Trading Down 0.8%

Shares of Alphabet stock opened at $355.68 on Thursday. The business has a fifty day simple moving average of $346.94 and a two-hundred day simple moving average of $326.15. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The company has a market capitalization of $4.31 trillion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 1.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter last year, the firm posted $2.81 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 14.28 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.41%.

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.