Alphabet Inc. $GOOG Shares Sold by NFSG Corp

NFSG Corp lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,699 shares of the information services provider’s stock after selling 10,040 shares during the period. Alphabet accounts for approximately 2.4% of NFSG Corp’s holdings, making the stock its 7th biggest position. NFSG Corp’s holdings in Alphabet were worth $14,544,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC grew its position in shares of 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 acquiring an additional 30 shares during the last quarter. Cannon Financial Strategists Inc. increased its stake in shares of Alphabet by 1.9% during the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider’s stock valued at $499,000 after acquiring an additional 30 shares during the period. Financial Enhancement Group LLC raised its stake in shares of Alphabet by 2.3% in the 1st quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider’s stock worth $380,000 after buying an additional 30 shares in the last quarter. HRC Wealth Management LLC raised its position in Alphabet by 1.0% in the fourth quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider’s stock worth $1,014,000 after acquiring an additional 31 shares in the last quarter. Finally, Certior Financial Group LLC raised its holdings in shares of Alphabet by 3.5% in the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider’s stock worth $288,000 after purchasing an additional 31 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOG shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a report on Monday, June 22nd. Finally, Scotiabank reiterated an “outperform” rating and set a $450.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $383.44.

Insider Buying and Selling

In related news, 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 in the company, valued at $545,941.03. This represents a 41.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock worth $7,672,279 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.2%

Alphabet stock opened at $346.12 on Friday. The stock has a market cap of $4.19 trillion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.23. Alphabet Inc. has a 12 month low of $184.73 and a 12 month high of $404.47. The business has a 50 day moving average price of $366.29 and a two-hundred day moving average price of $336.65. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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. The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.81 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

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

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.