Saranac Partners Ltd Sells 1,301 Shares of Alphabet Inc. $GOOG

Saranac Partners Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 39.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,957 shares of the information services provider’s stock after selling 1,301 shares during the period. Saranac Partners Ltd’s holdings in Alphabet were worth $614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOG. Brighton Jones LLC boosted its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its position in Alphabet by 76.2% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after acquiring an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Alphabet during the 2nd quarter valued at $658,000. Financial Advisors Network Inc. boosted its position in Alphabet by 7.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares in the last quarter. Finally, Ausdal Financial Partners Inc. boosted its position in Alphabet by 10.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. TD Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, May 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $372.65.

Alphabet Price Performance

NASDAQ:GOOG opened at $386.12 on Friday. Alphabet Inc. has a 52 week low of $163.33 and a 52 week high of $404.47. 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 stock has a market capitalization of $4.68 trillion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. The stock’s 50-day moving average price is $341.87 and its 200-day moving average price is $323.94.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm earned $2.81 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.41%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Waymo unit is rolling out its new “Ojai” robotaxi to select riders in major U.S. cities, with a roomier design, lower manufacturing costs, and a removable steering wheel — all signs that the autonomous vehicle business may become more scalable and economically viable. Article Title
• Positive Sentiment: Alphabet also announced a Google Cloud partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing cloud and AI as key growth drivers for the company beyond advertising. Article Title
• Neutral Sentiment: Commentary from Jim Cramer and several market notes described Alphabet as a “crucial position” and suggested investors still may be underestimating Waymo’s value, which can help sentiment but does not change fundamentals by itself. Article Title
• Neutral Sentiment: There was also interest in Alphabet’s AI-search changes and new Gemini-powered ad formats, which could improve monetization over time, but some observers say the overhaul is still controversial and early reactions are mixed. Article Title
• Negative Sentiment: Federal prosecutors charged a Google software engineer with using confidential information to make about $1.2 million on Polymarket bets, creating unwanted reputational risk for Alphabet and adding headlines that may pressure sentiment. Article Title
• Negative Sentiment: Alphabet’s recent AI Search overhaul is also drawing criticism, with some users and rival search services benefiting as concerns grow that Google’s changes could hurt traffic patterns and user satisfaction. Article Title

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares in the company, valued at $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,481 shares of company stock worth $27,422,061 in the last quarter. 12.99% of the stock is owned by insiders.

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.