Alphabet Inc. $GOOG Shares Sold by Trivest Advisors Ltd

Trivest Advisors Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 35.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,200 shares of the information services provider’s stock after selling 77,800 shares during the period. Alphabet comprises approximately 2.9% of Trivest Advisors Ltd’s investment portfolio, making the stock its 9th biggest position. Trivest Advisors Ltd’s holdings in Alphabet were worth $40,791,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Auto Owners Insurance Co lifted its position in shares of Alphabet by 38,409.2% during the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after acquiring an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP grew its holdings in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after acquiring an additional 111,699,704 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter worth $18,093,665,000. Cardano Risk Management B.V. raised its position in shares of Alphabet by 850.3% during the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider’s stock worth $5,551,938,000 after purchasing an additional 15,830,754 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Oppenheimer increased their price target on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Truist Financial set a $430.00 price objective on shares of Alphabet in a research note on Monday, June 1st. UBS Group set a $430.00 target price on shares of Alphabet in a report on Thursday, July 16th. Finally, Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a research report on Wednesday, May 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $386.88.

Insiders Place Their Bets

In other Alphabet 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 value of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s 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 completion of the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,415 shares of company stock worth $7,672,279 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates, driven by strong search, ads, and especially Google Cloud growth. S&P 500, Nasdaq close lower ahead of technology earnings
• Positive Sentiment: Google Cloud growth accelerated sharply on AI demand, reinforcing the case that Alphabet’s AI investments are translating into revenue. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: YouTube ad revenue rose 13%, adding another sign that Alphabet’s core advertising business remains resilient. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion
• Positive Sentiment: Google said Gemini has reached 950 million monthly active users, suggesting improving traction in consumer AI. Google’s Gemini app nips at ChatGPT’s heels as it nears 1 billion users

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $341.91 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1 year low of $188.70 and a 1 year high of $404.47. The business has a fifty day simple moving average of $363.69 and a 200 day simple moving average of $337.49. The firm has a market cap of $4.14 trillion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $6.23. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.06 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 14.34 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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