Alphabet Inc. $GOOG Shares Sold by NBT Bank N A NY

NBT Bank N A NY lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 144,723 shares of the information services provider’s stock after selling 3,456 shares during the period. Alphabet comprises about 2.7% of NBT Bank N A NY’s holdings, making the stock its 5th biggest position. NBT Bank N A NY’s holdings in Alphabet were worth $41,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Kathmere Capital Management LLC increased its stake in shares of Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after buying an additional 2,341 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in Alphabet by 1.0% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after buying an additional 2,850 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Alphabet by 7.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock worth $19,060,000 after acquiring an additional 4,239 shares during the last quarter. World Investment Advisors raised its stake in shares of Alphabet by 8.7% in the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after acquiring an additional 15,280 shares during the last quarter. Finally, Steginsky Capital LLC raised its stake in shares of Alphabet by 1.0% in the third quarter. Steginsky Capital LLC now owns 680,588 shares of the information services provider’s stock worth $165,757,000 after acquiring an additional 6,523 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. KeyCorp reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, May 20th. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $376.19.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, said it plans to expand driverless rides to four more major cities this year, a sign that Alphabet’s self-driving business is scaling beyond its current markets. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Google’s SynthID deepfake-detection system was used to debunk a high-profile AI-generated hoax image, highlighting the practical value of Alphabet’s AI safety tools. Google’s deepfake detector system used to debunk McConnell hoax pic
• Positive Sentiment: Several recent articles continued to frame Alphabet as a beneficiary of the AI infrastructure boom, with Google Cloud and AI demand seen as supporting revenue growth and long-term earnings power. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Investor commentary has also remained constructive after strong recent earnings, with one analysis arguing Alphabet is on track to sustain “Rule of 40” type growth and healthy margins. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy
• Positive Sentiment: Berkshire Hathaway’s reported $10 billion private placement in Alphabet continued to draw attention and may support confidence in GOOG’s long-term value. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Several market recap and valuation pieces discussed Alphabet alongside other mega-cap AI leaders, but these were mostly commentary rather than new business developments. Three Most Valuable Companies at $13 Trillion: Buy, Sell, or Hold
• Negative Sentiment: Trading-data articles highlighted recent weakness in GOOG, including heavier-than-broad-market selling and reports of significant insider selling over the past six months, which can weigh on sentiment. GOOGL stock is down 3% today. Here’s what we see in our data.

Insider Transactions at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $358.71 on Thursday. The company has a fifty day moving average price of $369.48 and a two-hundred day moving average price of $334.74. The firm has a market capitalization of $4.35 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.23. Alphabet Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share 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 company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the prior year, the business posted $2.81 EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This is a boost 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%. The ex-dividend date was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.

About Alphabet

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.