Whittier Trust Co. Reduces Stake in Alphabet Inc. $GOOG

Whittier Trust Co. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,490,983 shares of the information services provider’s stock after selling 75,259 shares during the quarter. Alphabet comprises about 5.0% of Whittier Trust Co.’s portfolio, making the stock its 3rd largest holding. Whittier Trust Co.’s holdings in Alphabet were worth $443,806,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Bogart Wealth LLC grew its stake in Alphabet by 14.1% in the 1st quarter. Bogart Wealth LLC now owns 4,947 shares of the information services provider’s stock valued at $1,419,000 after buying an additional 612 shares during the last quarter. Dividend Assets Capital LLC lifted its position in Alphabet by 18.4% during the first quarter. Dividend Assets Capital LLC now owns 3,225 shares of the information services provider’s stock worth $925,000 after acquiring an additional 501 shares during the last quarter. Ascentis Independent Advisors boosted its holdings in shares of Alphabet by 170.7% during the first quarter. Ascentis Independent Advisors now owns 22,667 shares of the information services provider’s stock worth $6,503,000 after acquiring an additional 14,292 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of Alphabet by 20.3% during the first quarter. Raleigh Capital Management Inc. now owns 622 shares of the information services provider’s stock worth $178,000 after acquiring an additional 105 shares during the period. Finally, Walkner Condon Financial Advisors LLC grew its position in shares of Alphabet by 1.9% in the first quarter. Walkner Condon Financial Advisors LLC now owns 5,602 shares of the information services provider’s stock valued at $1,605,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts and market commentators highlighted Alphabet’s AI advantage, arguing that its control of Search, Android, YouTube, Google Cloud and its chip/model stack gives it one of the best paths to monetize AI at scale. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Google Cloud-related partnerships remain a tailwind, including Accenture’s launch of agentic AI solutions built with Alphabet’s Google Cloud for mid-market firms, reinforcing demand for its enterprise AI offerings. Accenture and Alphabet (GOOGL) Launch Agentic AI Solutions for Mid-Market Firms
• Positive Sentiment: Alphabet’s strong quarterly results and cloud growth continue to drive bullish takes, with investors pointing to revenue growth, AI spending efficiency, and improving profitability as reasons the stock could outperform. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group restated a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. KeyCorp reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $376.19.

Insider Activity

In other news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the 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 owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 160,465 shares of company stock valued at $8,020,511. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $356.24 on Friday. The stock has a market capitalization of $4.32 trillion, a PE ratio of 27.17, a P/E/G ratio of 1.53 and a beta of 1.23. 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 business has a fifty day moving average price of $369.66 and a two-hundred day moving average price of $335.08. Alphabet Inc. has a fifty-two week low of $175.74 and a fifty-two week high of $404.47.

Alphabet (NASDAQ:GOOG) last released its 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. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same period in the prior year, the firm posted $2.81 EPS. Alphabet’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.

About Alphabet

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.