Sterling Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,099 shares of the information services provider’s stock after selling 22,853 shares during the period. Alphabet makes up approximately 1.1% of Sterling Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Sterling Capital Management LLC’s holdings in Alphabet were worth $55,528,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. EMC Capital Management bought a new stake in shares of Alphabet during the 4th quarter worth approximately $33,000. Lifetime Wealth Management P.C. purchased a new position in Alphabet during the 4th quarter valued at $32,000. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. bought a new position in Alphabet in the 4th quarter valued at $38,000. Finally, Bard Associates Inc. purchased a new stake in Alphabet in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Several recent stories highlight Alphabet’s AI and cloud momentum, including Google Cloud traction with enterprise customers like Jack Henry and growing use of Google’s cloud tech by Italy’s Intesa Sanpaolo, which supports the bull case for future growth. Article Title
- Positive Sentiment: Jim Cramer argued that Alphabet still looks cheap, reinforcing a valuation-supportive narrative for GOOGL after its pullback. Article Title
- Positive Sentiment: Wall Street sentiment remains constructive, with Wells Fargo keeping an overweight rating and multiple analysts maintaining buy recommendations, which may help support the stock. Article Title
- Neutral Sentiment: Alphabet’s insider selling by John Kent Walker appears routine and is not, by itself, a major fundamental concern for investors. Article Title
- Neutral Sentiment: Coverage around Alphabet’s growing role in AI-powered shopping, robotaxis, and other ecosystem developments adds to the long-term story, but these are more thesis-supportive than immediate catalysts. Article Title
- Negative Sentiment: The biggest drag is the EU Supreme Court decision upholding Alphabet’s €4.1 billion Android antitrust fine, which reinforces legal and regulatory overhangs for the stock. Article Title
- Negative Sentiment: A separate Swedish court ruling ordered Alphabet to pay nearly $2 billion in a price-comparison dispute, adding to the sense that antitrust and competition risks remain active. Article Title
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, sell-side analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is presently 6.71%.
Insider Activity
In related news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction 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 in the company, valued at $545,941.03. This represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the sale, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,465 shares of company stock worth $8,020,511 over the last ninety days. 11.61% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. Royal Bank Of Canada set a $425.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, April 30th. KeyCorp reaffirmed an “overweight” rating and set a $425.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. The Goldman Sachs Group boosted their price target on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Bank of America raised their price objective on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $445.00 target price (up from $425.00) on shares of Alphabet in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $413.54.
Check Out Our Latest Stock Report on Alphabet
Alphabet Company Profile
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.
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