Alphabet Inc. $GOOGL Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,754 shares of the information services provider’s stock after selling 22,974 shares during the quarter. Alphabet makes up about 2.4% of Cullinan Associates Inc.’s investment portfolio, making the stock its 9th largest position. Cullinan Associates Inc.’s holdings in Alphabet were worth $29,835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of Alphabet by 30.7% in the first quarter. Fifth Third Bancorp now owns 5,013,281 shares of the information services provider’s stock valued at $1,441,619,000 after purchasing an additional 1,178,514 shares in the last quarter. Glass Wealth Management Co LLC boosted its stake in Alphabet by 4.4% during the first quarter. Glass Wealth Management Co LLC now owns 44,035 shares of the information services provider’s stock worth $12,663,000 after buying an additional 1,872 shares in the last quarter. Sovran Advisors LLC increased its holdings in Alphabet by 24.0% in the 1st quarter. Sovran Advisors LLC now owns 29,087 shares of the information services provider’s stock valued at $8,364,000 after buying an additional 5,628 shares during the period. Summit Financial Strategies Inc. increased its holdings in Alphabet by 6.9% in the 1st quarter. Summit Financial Strategies Inc. now owns 7,748 shares of the information services provider’s stock valued at $2,228,000 after buying an additional 500 shares during the period. Finally, Oakwell Private Wealth Management LLC raised its stake in shares of Alphabet by 4.4% in the 1st quarter. Oakwell Private Wealth Management LLC now owns 9,453 shares of the information services provider’s stock valued at $2,718,000 after buying an additional 395 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $347.15 on Wednesday. Alphabet Inc. has a twelve month low of $187.46 and a twelve month high of $408.61. The firm has a market cap of $4.21 trillion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The business has a fifty day moving average of $367.35 and a 200-day moving average of $338.65.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. On average, equities research analysts predict that Alphabet Inc. will post 14.33 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. 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%. Alphabet’s payout ratio is 6.71%.

Insider Buying and Selling

In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 159,415 shares of company stock worth $7,672,279. 11.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. KeyCorp raised their price objective on shares of Alphabet from $425.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective (up from $375.00) on shares of Alphabet in a research note on Tuesday, June 30th. Wells Fargo & Company reissued an “overweight” rating and issued a $438.00 target price (up from $416.00) on shares of Alphabet in a report on Tuesday. Finally, UBS Group restated a “neutral” rating and set a $400.00 target price (down from $410.00) on shares of Alphabet in a research report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $414.54.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reportedly developed a new AI server chip, “Frozen v2,” to make Gemini run more efficiently, which could improve margins and help ease compute constraints for Google Cloud. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Google released new Gemini models, including cheaper and more efficient versions, signaling continued AI product momentum ahead of earnings. TechCrunch: Google releases three new Gemini models
• Positive Sentiment: Analysts and market commentary remain constructive on Alphabet going into Q2 results, with expectations that Search and Google Cloud can still deliver strong growth. Yahoo Finance: Alphabet Q2 Earnings Preview
• Neutral Sentiment: Alphabet’s earnings report on Wednesday is expected to be a major market test for AI spending, cloud growth, and capital expenditure discipline. Invezz: What to expect from Alphabet’s Q2 earnings
• Neutral Sentiment: Alphabet is also facing a cluster of securities-fraud investigation headlines, though these are largely legal overhangs at this stage rather than new operational news. PR Newswire: Securities fraud investigation continues
• Negative Sentiment: Reuters reported that a flagship Gemini model remains delayed, adding to investor worries that heavy AI spending may not translate into results quickly enough. Reuters: Alphabet’s Gemini delay, spending worries loom over earnings

Alphabet Company Profile

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.