Citizens Financial Group Inc. RI Has $71.56 Million Stock Position in Alphabet Inc. $GOOG

Citizens Financial Group Inc. RI decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,454 shares of the information services provider’s stock after selling 29,864 shares during the period. Alphabet accounts for 1.0% of Citizens Financial Group Inc. RI’s investment portfolio, making the stock its 20th biggest holding. Citizens Financial Group Inc. RI’s holdings in Alphabet were worth $71,558,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC bought a new position in Alphabet in the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $41,000. Finally, Towne Trust Company N.A grew its stake 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 last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction 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. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 159,415 shares of company stock worth $7,672,279. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 3.6%

Shares of Alphabet stock opened at $370.21 on Thursday. Alphabet Inc. has a 12-month low of $181.50 and a 12-month high of $404.47. The stock has a market capitalization of $4.49 trillion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.23. The company has a 50-day simple moving average of $368.14 and a 200 day simple moving average of $336.31. 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 data on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $2.81 earnings per share. Research analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current fiscal 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 given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Pivotal Research restated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. KeyCorp set a $445.00 target price on Alphabet in a research report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Truist Financial set a $430.00 price target on Alphabet in a report on Monday, June 1st. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $378.53.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he personally initiated Berkshire Hathaway’s purchase of Alphabet, giving the stock a high-profile vote of confidence and reinforcing the view that GOOG remains attractive ahead of earnings. Warren Buffett tells CNBC he initiated Berkshire Hathaway’s investment in Alphabet
• Positive Sentiment: Several analysts and market articles said Alphabet’s AI-driven search, cloud growth, and improving earnings outlook could support another results beat, keeping investor sentiment constructive. Alphabet Inc. (GOOG) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Positive Sentiment: Alphabet’s large clean-power purchase and ongoing AI infrastructure investment signal continued support for long-term cloud and AI expansion, which investors may view as a strength. Google’s biggest clean power project is 40 miles north of xAI’s unpermitted gas power plant
• Neutral Sentiment: Alphabet continues to receive favorable brokerage and valuation commentary, with some coverage highlighting strong AI monetization but noting the stock is already pricing in a lot of optimism. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Negative Sentiment: The EU is preparing new fines against Google, adding to regulatory overhang and reminding investors that antitrust risk remains a key issue for the stock. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google also faced fresh scrutiny from Swiss regulators and new AI-related criticism and lawsuits, which could pressure sentiment around its core search and AI businesses. Google probed by Swiss regulator over Android default search feature

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.