Midwest Trust Co Decreases Stock Holdings in Alphabet Inc. $GOOGL

Midwest Trust Co cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 712,225 shares of the information services provider’s stock after selling 10,954 shares during the quarter. Alphabet accounts for about 2.6% of Midwest Trust Co’s portfolio, making the stock its 5th largest holding. Midwest Trust Co’s holdings in Alphabet were worth $204,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Alphabet during the fourth quarter valued at approximately $30,534,239,000. Cardano Risk Management B.V. increased its stake in shares of Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. Capital World Investors raised its holdings in shares of Alphabet by 28.0% during the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after buying an additional 11,605,785 shares in the last quarter. Finally, Diamant Asset Management Inc. raised its holdings in shares of Alphabet by 28,950.0% during the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock worth $2,671,986,000 after buying an additional 9,259,940 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the firm’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 transaction, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock valued at $7,672,279 in the last quarter. Insiders own 11.61% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $347.15 on Wednesday. The business has a 50 day moving average of $367.35 and a 200-day moving average of $338.65. Alphabet Inc. has a 1 year low of $187.46 and a 1 year high of $408.61. 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 capitalization of $4.21 trillion, a P/E ratio of 26.48, a P/E/G ratio of 1.46 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. On average, equities research analysts predict that Alphabet Inc. will post 14.33 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is 6.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. KeyCorp raised their price objective on Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Oppenheimer boosted their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Rosenblatt Securities reissued a “neutral” rating and issued a $393.00 target price on shares of Alphabet in a report on Thursday, May 21st. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, May 29th. Finally, Arete Research lifted their price target on shares of Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $414.54.

Trending Headlines about Alphabet

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

Alphabet 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.