RNC Capital Management LLC Sells 1,394 Shares of Alphabet Inc. $GOOG

RNC Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,961 shares of the information services provider’s stock after selling 1,394 shares during the period. RNC Capital Management LLC’s holdings in Alphabet were worth $26,974,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOG. Imprint Wealth LLC bought a new stake in shares of Alphabet in the third quarter worth $31,000. Manning & Napier Advisors LLC bought a new stake in shares of Alphabet in the third quarter worth $32,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Towne Trust Company N.A grew its holdings 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 worth $42,000 after acquiring an additional 34 shares during the period. Finally, Lynch Asset Management Inc. bought a new stake in shares of Alphabet in the third quarter worth $61,000. 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: Bank of America and other analysts are expecting major Gemini AI announcements at Google I/O, which could reinforce Alphabet’s leadership in AI and support the stock. BofA Sends Blunt Message for Alphabet Investors Ahead of Google I/O
• Positive Sentiment: Oppenheimer raised its price target on Alphabet, and Erste Group also lifted earnings estimates, signaling stronger profit expectations ahead of Google I/O. Alphabet had its price target raised by Oppenheimer Holdings, Inc.
• Positive Sentiment: Several investors and funds, including Goldman Sachs and Egerton Capital, disclosed larger Alphabet stakes, suggesting continued institutional confidence. Fund Update: GOLDMAN SACHS GROUP INC Just Disclosed New Holdings
• Positive Sentiment: Reports that Google’s Gemini Flash model is quietly gaining AI customers and that Alphabet is expanding AI infrastructure point to improving enterprise demand for its AI products. Google has been quietly gaining AI customers, even before big releases next week
• Positive Sentiment: Alphabet completed a record 576.5 billion yen bond offering to fund AI capex, showing it still has strong access to capital for its infrastructure buildout. Alphabet completes record-breaking yen bond issuance
• Neutral Sentiment: News that Google is in talks with SpaceX to launch data centers into space is intriguing, but it is still early-stage and speculative. Google in Talks with SpaceX to Launch Data Centers into Space
• Neutral Sentiment: Isomorphic Labs raised $2.1 billion to use AI for drug discovery, which highlights Alphabet’s broader AI ecosystem, but the direct stock impact is limited for now. Isomorphic Labs Raises $2.1 Billion to End Disease With AI
• Negative Sentiment: Bill Ackman’s Pershing Square sharply cut its GOOG and GOOGL positions, adding to concern that some large investors may be taking profits after the run-up. Fund Update: Bill Ackman’s Pershing Square Capital Management, L.P. Just Disclosed New Holdings
• Negative Sentiment: Some commentary says Alphabet’s heavy AI and cloud spending is pressuring free cash flow, raising questions about near-term margins and valuation. 6.7% AA2 Bond Yield From Alphabet, But There Is a Catch

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the transaction, the director owned 3,581 shares in the company, valued at $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 157,953 shares of company stock valued at $47,767,818. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOG shares. KeyCorp set a $370.00 target price on Alphabet in a research report on Thursday, February 5th. TD Cowen lifted their target price on Alphabet from $375.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Piper Sandler reiterated an “overweight” rating and set a $395.00 target price on shares of Alphabet in a research report on Thursday, February 5th. Finally, Pivotal Research reiterated a “buy” rating and set a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $363.40.

Alphabet Price Performance

NASDAQ GOOG opened at $393.32 on Friday. The company has a market capitalization of $4.77 trillion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25. 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’s fifty day moving average is $327.44 and its 200 day moving average is $316.98. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $399.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 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 for the quarter, compared to the consensus estimate of $106.96 billion. During the same period in the previous year, the business earned $2.81 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 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.