BTC Capital Management Inc. Acquires Shares of 2,326 Alphabet Inc. $GOOG

BTC Capital Management Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,326 shares of the information services provider’s stock, valued at approximately $667,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Imprint Wealth LLC acquired a new stake in Alphabet during the 3rd quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $41,000. Finally, Towne Trust Company N.A boosted its stake in shares of Alphabet by 34.0% during the 4th 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 during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

More Alphabet News

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

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Truist Financial set a $430.00 price target on shares of Alphabet in a research note on Monday, June 1st. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Oppenheimer lifted their price target on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $376.78.

Alphabet Trading Down 2.2%

NASDAQ GOOG opened at $334.71 on Friday. 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 Inc. has a one year low of $172.71 and a one year high of $404.47. The company has a 50-day simple moving average of $366.33 and a 200-day simple moving average of $331.94. The firm has a market capitalization of $4.06 trillion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22.

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, topping the consensus estimate of $2.68 by $2.43. The business had revenue of $109.90 billion for 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%.The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $2.81 EPS. On average, equities analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.3%. 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 the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 151,523 shares of company stock worth $4,863,526. 12.99% of the stock is owned by company insiders.

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.