Midwest Trust Co reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 712,225 shares of the information services provider’s stock after selling 10,954 shares during the quarter. Alphabet comprises 2.6% of Midwest Trust Co’s portfolio, making the stock its 5th biggest position. Midwest Trust Co’s holdings in Alphabet were worth $204,807,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. NewEdge Wealth LLC increased its position in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider’s stock valued at $277,696,000 after acquiring an additional 93,293 shares during the last quarter. PFG Investments LLC boosted its position in Alphabet by 2.6% during the first quarter. PFG Investments LLC now owns 89,299 shares of the information services provider’s stock valued at $25,679,000 after purchasing an additional 2,269 shares during the last quarter. World Investment Advisors boosted its position in Alphabet by 9.2% during the fourth quarter. World Investment Advisors now owns 274,761 shares of the information services provider’s stock valued at $86,000,000 after purchasing an additional 23,107 shares during the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust bought a new position in Alphabet in the fourth quarter valued at approximately $28,902,000. Finally, Private Advisory Group LLC grew its stake in Alphabet by 12.2% in the fourth quarter. Private Advisory Group LLC now owns 24,717 shares of the information services provider’s stock valued at $7,736,000 after purchasing an additional 2,678 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Down 1.4%
Shares of GOOGL opened at $347.15 on Wednesday. The firm’s 50-day simple moving average is $367.35 and its 200 day simple moving average is $338.65. 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 firm has a market cap of $4.21 trillion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24. Alphabet Inc. has a 52 week low of $187.46 and a 52 week high of $408.61.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 6.71%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on GOOGL shares. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Bank of America raised their target price on shares of Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Morgan Stanley restated an “overweight” rating and set a $415.00 target price (up from $375.00) on shares of Alphabet in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Finally, Cantor Fitzgerald increased their price target on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $414.54.
Get Our Latest Report on Alphabet
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet reportedly developed a new AI server chip, “Frozen v2,” to make Gemini run more efficiently, which could improve margins and help ease compute constraints for Google Cloud. Reuters: Google plans new chip to run Gemini models more efficiently
- Positive Sentiment: Google released new Gemini models, including cheaper and more efficient versions, signaling continued AI product momentum ahead of earnings. TechCrunch: Google releases three new Gemini models
- Positive Sentiment: Analysts and market commentary remain constructive on Alphabet going into Q2 results, with expectations that Search and Google Cloud can still deliver strong growth. Yahoo Finance: Alphabet Q2 Earnings Preview
- Neutral Sentiment: Alphabet’s earnings report on Wednesday is expected to be a major market test for AI spending, cloud growth, and capital expenditure discipline. Invezz: What to expect from Alphabet’s Q2 earnings
- Neutral Sentiment: Alphabet is also facing a cluster of securities-fraud investigation headlines, though these are largely legal overhangs at this stage rather than new operational news. PR Newswire: Securities fraud investigation continues
- Negative Sentiment: Reuters reported that a flagship Gemini model remains delayed, adding to investor worries that heavy AI spending may not translate into results quickly enough. Reuters: Alphabet’s Gemini delay, spending worries loom over earnings
Insider Transactions at Alphabet
In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at $6,615,656.24. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 159,415 shares of company stock worth $7,672,279. 11.61% of the stock is currently owned by company insiders.
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.
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