Cidel Asset Management Inc. Raises Stake in Alphabet Inc. $GOOG

Cidel Asset Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,660 shares of the information services provider’s stock after acquiring an additional 2,404 shares during the quarter. Cidel Asset Management Inc.’s holdings in Alphabet were worth $8,221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ring Mountain Capital LLC raised its stake in Alphabet by 0.9% during the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider’s stock worth $1,174,000 after purchasing an additional 30 shares during the period. Cannon Financial Strategists Inc. grew its stake in shares of Alphabet by 1.9% in the 4th quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after buying an additional 30 shares during the period. HRC Wealth Management LLC increased its holdings in shares of Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after buying an additional 31 shares during the last quarter. Certior Financial Group LLC increased its holdings in shares of Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after buying an additional 31 shares during the last quarter. Finally, Synergy Investment Management LLC raised its position in shares of Alphabet by 0.8% during the 4th quarter. Synergy Investment Management LLC now owns 4,124 shares of the information services provider’s stock valued at $1,294,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s advertising business is still growing, with one analyst note pointing to rising ad revenues and AI-driven ad tools as a source of further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Wedbush said the recent sell-off in big tech and AI names looks more like a buying opportunity than a broken AI thesis, and included Alphabet among the core beneficiaries of the AI trend. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: Alphabet continues to get bullish long-term commentary from investors who see it as a strong growth and AI compounder, helped by Google Cloud momentum and AI monetization potential. Alphabet: Still A Top-Tier AI Compounder
• Neutral Sentiment: Alphabet is set to join the Dow Jones Industrial Average, which is a notable index inclusion but not an immediate fundamental catalyst. Alphabet Set to Join Dow Jones Industrial Average as Verizon Exits Index (GOOG)
• Neutral Sentiment: A new bill would study data-center energy and water measurement standards, which could eventually affect Alphabet’s cloud and AI infrastructure, but it does not create immediate regulation. New Bill: Representative Suhas Subramanyam introduces H.R. 9372: Data Infrastructure Energy Measurement and Standards Act
• Negative Sentiment: Investor concern is centered on Google’s AI talent exodus, with reports of more researchers leaving for rivals like Anthropic, raising worries about execution in Gemini and broader AI competitiveness. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: A separate report said Google is taking a tougher stance with publishers to secure broader content access for AI training, while publishers warn that traffic declines are already hurting them, adding to regulatory and relationship risk. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Several articles this week continued to highlight weakness in the “all-in on AI” trade and pressure on Alphabet shares tied to AI talent losses and competitive fears. Ranking the FAANG Stocks From Most to Least Attractive, Based on Future Cash Flow

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 is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the sale, the director directly owned 1,481 shares of the company’s stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 151,523 shares of company stock valued at $4,863,526 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Stock Down 2.2%

GOOG opened at $334.71 on Friday. The business has a 50 day simple moving average of $366.33 and a 200-day simple moving average of $331.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market capitalization of $4.06 trillion, a P/E ratio of 25.53, a P/E/G ratio of 1.46 and a beta of 1.22. Alphabet Inc. has a 12 month low of $172.71 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the company posted $2.81 EPS. The company’s revenue was up 21.8% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. KeyCorp reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. JPMorgan Chase & Co. increased their price target on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. TD Cowen boosted their target price on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $435.00 target price on shares of Alphabet in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $376.78.

Alphabet Company 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.