Petros Family Wealth LLC Sells 2,251 Shares of Alphabet Inc. $GOOGL

Petros Family Wealth LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.2% in the 1st quarter, Holdings Channel reports. The fund owned 5,729 shares of the information services provider’s stock after selling 2,251 shares during the quarter. Alphabet accounts for approximately 1.2% of Petros Family Wealth LLC’s holdings, making the stock its 24th largest position. Petros Family Wealth LLC’s holdings in Alphabet were worth $1,647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC increased its stake in shares of Alphabet by 62.5% in the first quarter. Midwest Capital Advisors LLC now owns 554 shares of the information services provider’s stock worth $159,000 after purchasing an additional 213 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in Alphabet by 21.1% in the 1st quarter. Capital Asset Advisory Services LLC now owns 60,518 shares of the information services provider’s stock valued at $17,403,000 after buying an additional 10,540 shares in the last quarter. Squire Investment Management Company LLC lifted its position in shares of Alphabet by 35.3% during the first quarter. Squire Investment Management Company LLC now owns 959 shares of the information services provider’s stock worth $276,000 after acquiring an additional 250 shares in the last quarter. Semus Wealth Partners LLC boosted its holdings in shares of Alphabet by 5.4% in the first quarter. Semus Wealth Partners LLC now owns 23,682 shares of the information services provider’s stock worth $6,810,000 after acquiring an additional 1,221 shares during the period. Finally, Secured Retirement Advisors LLC raised its stake in shares of Alphabet by 3.2% during the 1st quarter. Secured Retirement Advisors LLC now owns 14,473 shares of the information services provider’s stock valued at $4,162,000 after purchasing an additional 445 shares during the period. Institutional investors own 40.03% of the company’s stock.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to be viewed as a leading AI beneficiary thanks to its broad distribution across Search, Android, YouTube, Google Cloud and custom chips, which could help it monetize AI spending more effectively than peers. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Brokerage coverage remains favorable, with a report saying analysts see about 10% upside for Alphabet after its recent earnings strength, and another note saying brokerages rate the stock a “Moderate Buy.”
• Positive Sentiment: Alphabet is still being highlighted as a top internet and cloud stock positioned to benefit from heavy AI infrastructure spending, supporting the view that growth can continue even as the market rotates among tech leaders.
• Positive Sentiment: Berkshire Hathaway’s recent $10 billion private placement in Alphabet is continuing to attract bullish attention, signaling institutional confidence in the company’s long-term value and AI potential.
• Positive Sentiment: Waymo’s plan to expand driverless rides to four more major cities adds another long-term growth avenue outside core advertising and cloud businesses.
• Neutral Sentiment: Google is rolling out disclosures showing when ads were made with AI, which may improve transparency but does not appear to be a major near-term financial driver.
• Neutral Sentiment: Alphabet’s search product hit record query volume during the World Cup, underscoring usage strength in the core business, though this is more of an engagement datapoint than a direct earnings catalyst.
• Negative Sentiment: Google is appealing an Indian ruling tied to trademark issues in its ads platform, creating a legal/regulatory headline that could weigh on sentiment around the advertising business. Google appeals Indian ruling over its ads platform, citing consumer harm
• Negative Sentiment: Some market commentary notes that Alphabet has pulled back alongside other mega-cap tech names as investors rotate toward other parts of the AI trade, which may be contributing to the stock’s weakness today.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOGL shares. President Capital lifted their target price on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. BNP Paribas Exane increased their target price on shares of Alphabet from $390.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays restated a “buy” rating on shares of Alphabet in a research report on Friday, May 29th. Finally, Daiwa Securities Group lifted their price target on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $413.54.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company’s stock, valued at $6,615,656.24. This represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This trade represents a 10.68% 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 160,465 shares of company stock worth $8,020,511 over the last quarter. Company insiders own 11.61% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $358.89 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $4.35 trillion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The stock’s 50 day moving average price is $372.47 and its 200-day moving average price is $336.30. Alphabet Inc. has a 52-week low of $174.38 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities research analysts predict that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

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

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.