White Pine Investment CO trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 80,577 shares of the information services provider’s stock after selling 3,603 shares during the period. Alphabet makes up about 5.4% of White Pine Investment CO’s holdings, making the stock its 2nd biggest holding. White Pine Investment CO’s holdings in Alphabet were worth $23,171,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Symmetry Partners LLC grew its holdings in shares of Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock valued at $2,476,000 after buying an additional 30 shares during the last quarter. Members Trust Co increased its position in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock valued at $2,014,000 after acquiring an additional 31 shares in the last quarter. Altfest L J & Co. Inc. raised its holdings in Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares during the last quarter. Insight 2811 Inc. raised its holdings in Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after acquiring an additional 32 shares during the last quarter. Finally, LJI Wealth Management LLC lifted its position in Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock valued at $2,274,000 after acquiring an additional 32 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Trading Up 1.1%
Shares of GOOGL stock opened at $357.37 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $4.33 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.51 and a beta of 1.23. Alphabet Inc. has a 1 year low of $172.77 and a 1 year high of $408.61. The firm has a fifty day moving average price of $369.61 and a 200-day moving average price of $333.53.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is currently 6.71%.
Insider Buying and Selling
In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total value 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. This represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 151,467 shares of company stock worth $4,877,600 over the last ninety days. 11.61% of the stock is owned by corporate insiders.
More Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, which boosted demand for the shares and highlighted the company’s growing importance in AI and large-cap tech. Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
- Positive Sentiment: Several reports pointed to bullish Wall Street views, including a higher price target from analysts and commentary that Alphabet remains a strong long-term growth stock. Alphabet Replaces Verizon In Dow Jones As Analyst Boosts Target To $415
- Positive Sentiment: Google introduced Nano Banana 2 Lite, a faster and cheaper AI image/video generator, which may strengthen its competitive position in generative AI. Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
- Positive Sentiment: Visa and Google signed on to use the OpenUSD stablecoin for money movement, expanding Alphabet’s presence in digital payments and emerging commerce infrastructure. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
- Neutral Sentiment: One director disclosed a small stock sale, which is routine and not large enough to signal a major change in fundamentals. Director Frances Arnold sold 112 shares of Alphabet stock
- Negative Sentiment: UK regulators are targeting Apple and Google app-store fees and payment restrictions, which could pressure Alphabet’s services revenue and app platform economics if rules are tightened. UK targets Apple, Google app store fees for developers
- Negative Sentiment: Some AI-related headlines noted talent loss to rivals and ongoing concerns about regulatory and AI-related risks, which may limit upside enthusiasm near term. Google hit by new AI brain drain as Anthropic poaches top Gemini talent
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on GOOGL shares. Bank of America boosted their price objective on shares of Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Phillip Securities increased their price target on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a report on Wednesday, April 15th. Arete Research raised their price target on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. The Goldman Sachs Group upped their price objective on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $413.90.
View Our Latest Stock Analysis on GOOGL
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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