Guyasuta Investment Advisors Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,246 shares of the information services provider’s stock after selling 9,321 shares during the quarter. Alphabet makes up 6.1% of Guyasuta Investment Advisors Inc.’s investment portfolio, making the stock its largest holding. Guyasuta Investment Advisors Inc.’s holdings in Alphabet were worth $105,635,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. boosted its holdings in shares of Alphabet by 5.4% in the 1st quarter. New Covenant Trust Company N.A. now owns 4,863 shares of the information services provider’s stock worth $1,395,000 after buying an additional 248 shares during the last quarter. Presilium Private Wealth LLC increased its holdings in Alphabet by 1.8% during the first quarter. Presilium Private Wealth LLC now owns 3,580 shares of the information services provider’s stock worth $1,027,000 after buying an additional 62 shares during the last quarter. Vermillion Wealth Management Inc. raised its position in Alphabet by 71.4% in the first quarter. Vermillion Wealth Management Inc. now owns 768 shares of the information services provider’s stock worth $220,000 after acquiring an additional 320 shares during the period. Mainstream Capital Management LLC raised its position in Alphabet by 0.4% in the first quarter. Mainstream Capital Management LLC now owns 20,238 shares of the information services provider’s stock worth $5,805,000 after acquiring an additional 75 shares during the period. Finally, Great Waters Wealth Management boosted its stake in Alphabet by 12.1% in the first quarter. Great Waters Wealth Management now owns 916 shares of the information services provider’s stock valued at $263,000 after acquiring an additional 99 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Shares of NASDAQ:GOOG opened at $342.19 on Friday. The firm has a market capitalization of $4.15 trillion, a PE ratio of 26.10, a P/E/G ratio of 1.48 and a beta of 1.22. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $366.32 and a two-hundred day moving average price of $331.92. Alphabet Inc. has a twelve month low of $170.86 and a twelve month high of $404.47.
Alphabet Increases Dividend
The firm also recently disclosed 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 was Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GOOG. KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Truist Financial set a $430.00 price target on shares of Alphabet in a report on Monday, June 1st. Freedom Capital downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Pivotal Research reissued a “buy” rating and issued a $470.00 target price (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $376.78.
Check Out Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 151,523 shares of company stock worth $4,863,526. 12.99% of the stock is owned by insiders.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet will join the Dow Jones Industrial Average on June 29, replacing Verizon. That index upgrade can lift demand from index funds and reinforces Alphabet’s status as a blue-chip tech leader. Alphabet replacing Verizon in Dow Jones Industrial Average index
- Positive Sentiment: Google Finance launched a major overhaul with a new Android app, global portfolio-tracking tools, AI features, and real-time market data, adding another consumer-facing product update to Alphabet’s ecosystem. Google Finance Debuts App and Investment Tracking Capabilities
- Neutral Sentiment: Alphabet was cited in a proposed AI Bubble Transparency Act that would increase reporting on AI-related financing exposure. This is more of a policy backdrop than an immediate earnings impact, but it highlights rising scrutiny around the AI sector. New Bill: Senator Elizabeth Warren introduces S. 4743: AI Bubble Transparency Act
- Negative Sentiment: Investor sentiment has been hurt by reports that two more top AI researchers are leaving Google for Anthropic, extending a wave of departures that raises questions about talent retention and Alphabet’s competitive position in AI. Alphabet Shares Fall After Report on Further AI Talent Departures
- Negative Sentiment: Additional coverage says the AI talent exodus is continuing and that Gemini may be lagging rivals, which is fueling concern that Alphabet is losing momentum in one of its most important growth areas. AI researchers continue to leave Google for its rivals
- Negative Sentiment: Alphabet also faced a separate headline that Gemini 3.5 Pro’s release was delayed, adding to worries that product execution in AI is slipping while rivals move quickly. Alphabet Delays Release of Gemini 3.5 Pro AI Model
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.
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