Alphabet Inc. $GOOG Shares Sold by J. L. Bainbridge & Co. Inc.

Key Points

• J. L. Bainbridge & Co. Inc. reduced its Alphabet stake by 5.9% in the first quarter, selling 12,107 shares and leaving it with 194,699 shares worth about $55.9 million.
• Despite the sale, institutional investors still own 27.26% of Alphabet, and several major funds such as Vanguard, State Street, and JPMorgan also reported sizable holdings in the company.
• Wall Street sentiment remains broadly positive: multiple analysts reiterated buy ratings, and Alphabet’s latest quarterly results beat expectations with $5.11 EPS on $109.9 billion in revenue, while the company also raised its quarterly dividend to $0.22 per share.

J. L. Bainbridge & Co. Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,699 shares of the information services provider's stock after selling 12,107 shares during the period. Alphabet makes up about 5.0% of J. L. Bainbridge & Co. Inc.'s portfolio, making the stock its 8th largest holding. J. L. Bainbridge & Co. Inc.'s holdings in Alphabet were worth $55,851,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock worth $132,114,125,000 after purchasing an additional 8,128,234 shares during the last quarter. State Street Corp increased its stake in shares of Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after purchasing an additional 953,790 shares during the last quarter. Auto Owners Insurance Co increased its stake in shares of Alphabet by 38,409.2% in the 4th quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP increased its stake in shares of Alphabet by 28,482.8% in the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 1.1% during the 4th quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock worth $31,569,189,000 after buying an additional 1,073,151 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOG. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the stock a "buy" rating in a research report on Friday, March 13th. Oppenheimer lifted their target price on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Citigroup reissued a "market outperform" rating on shares of Alphabet in a research note on Monday, June 22nd. Truist Financial set a $430.00 target price on shares of Alphabet in a report on Monday, June 1st. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $376.78.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s inclusion in the Dow Jones Industrial Average is drawing passive fund flows and reinforcing its status as a blue-chip tech leader. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: New AI product launches, including Nano Banana 2 Lite and Gemini Omni, suggest Alphabet is still pushing harder on cheaper, faster AI tools that could boost adoption and competitiveness. TechCrunch: Google introduces a faster, cheaper image generator with Nano Banana 2 Lite
• Positive Sentiment: FactSet’s strategic partnership with Google Cloud adds another enterprise validation point for Alphabet’s AI and cloud strategy. Yahoo Finance: FactSet Announces Strategic Partnership with Google Cloud to Bring Advanced AI to Financial Intelligence
• Positive Sentiment: Wall Street commentary remains broadly bullish, with multiple analysts reiterating buy ratings and raising price targets, supporting the idea that recent weakness may be a buying opportunity.
• Neutral Sentiment: Google exceeded its $1 billion Africa investment target, which is strategically positive but not likely a near-term earnings driver. Reuters: Google has exceeded $1 billion Africa investment target
• Neutral Sentiment: Several reports highlighted strong long-term AI and cloud upside, but these were largely reiterations of an already bullish thesis rather than new catalysts.
• Negative Sentiment: A Swedish court ordered Google to pay nearly $2 billion in antitrust damages to Klarna’s PriceRunner unit, renewing regulatory pressure on Alphabet’s search and shopping businesses. Reuters: Swedish court says Google is to pay $1.5 billion to Klarna in antitrust damages
• Negative Sentiment: Alphabet insiders continued to sell shares, including director Frances Arnold and president John Kent Walker, which can weigh on investor sentiment even if the sales were routine. SEC filing: Alphabet insider transaction
• Negative Sentiment: Investors are also worried about Alphabet’s heavy AI infrastructure spending and compute-capacity constraints, which could pressure margins in the near term. Yahoo Finance: Alphabet Could Add 9 GW of Compute Capacity in 2028, Morgan Stanley Says

Alphabet Stock Up 1.3%

Shares of GOOG opened at $357.89 on Thursday. 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 Inc. has a 52 week low of $173.88 and a 52 week high of $404.47. The stock has a market capitalization of $4.34 trillion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.51 and a beta of 1.23. The stock has a fifty day moving average of $367.43 and a 200-day moving average of $332.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping 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 business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the previous year, the company posted $2.81 EPS. Alphabet's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company 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 a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's payout ratio is 6.71%.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the transaction, the director owned 1,481 shares of the company's stock, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,465 shares of company stock valued at $8,020,511. Corporate insiders own 12.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.