Alphabet Inc. $GOOGL is 626 Financial LLC's 10th Largest Position

Key Points

• 626 Financial LLC trimmed its Alphabet stake by 12.6% in the first quarter, selling 3,384 shares and leaving it with 23,528 shares worth about $6.77 million. Alphabet now makes up roughly 3.0% of the firm’s portfolio and is its 10th largest holding.
• Wall Street remains broadly bullish on GOOGL, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating. The average target price is $413.54, above its recent trading level.
• Alphabet reported strong quarterly results, posting EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion versus expectations of $106.98 billion. The company also raised its quarterly dividend to $0.22 from $0.21.

626 Financial LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,528 shares of the information services provider's stock after selling 3,384 shares during the quarter. Alphabet makes up approximately 3.0% of 626 Financial LLC's holdings, making the stock its 10th biggest holding. 626 Financial LLC's holdings in Alphabet were worth $6,766,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lifetime Wealth Management P.C. purchased a new position in Alphabet in the fourth quarter worth $32,000. EMC Capital Management purchased a new stake in shares of Alphabet during the 4th quarter valued at $33,000. PMV Capital Advisers LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $38,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $38,000. Finally, Bard Associates Inc. purchased a new position in Alphabet during the 4th quarter worth $52,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Guggenheim reiterated a "buy" rating and issued a $450.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the company a "buy" rating in a report on Thursday, April 30th. KeyCorp reiterated an "overweight" rating and issued a $425.00 price objective on shares of Alphabet in a research note on Wednesday, May 20th. Dbs Bank boosted their price target on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Finally, Daiwa Securities Group raised their price objective on shares of Alphabet from $380.00 to $445.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Two 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $413.54.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director owned 1,481 shares of the company's stock, valued at $545,941.03. This represents a 41.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares of the company's stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is currently owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $367.03 on Wednesday. The stock has a market capitalization of $4.45 trillion, a P/E ratio of 28.00, a P/E/G ratio of 1.57 and a beta of 1.24. The company's fifty day moving average price is $372.05 and its 200 day moving average price is $335.51. 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 1 year low of $172.77 and a 1 year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is drawing bullish sentiment from investors and analysts as a top AI name, with one report highlighting billionaire Jeffrey Talpins’ view that GOOGL is among the best AI stocks to own.
• Positive Sentiment: Google-backed Proxima Fusion raised €411 million in a major financing round, underscoring Alphabet’s continued involvement in frontier energy and AI-adjacent innovation. Reuters article
• Positive Sentiment: Coverage focused on Google Cloud suggests the segment is increasingly seen as a key growth engine for Alphabet, reinforcing the market’s confidence in its AI and cloud strategy. Trefis article
• Positive Sentiment: Alphabet continues to be highlighted in “final trades” and stock-picking segments, which can support near-term sentiment by keeping the name in focus for traders. Benzinga article
• Neutral Sentiment: Alphabet announced its Made by Google Pixel event for August 12, which keeps hardware and consumer-device expectations in view but is not a major immediate catalyst.
• Neutral Sentiment: Articles comparing Alphabet with Palantir and Taiwan Semiconductor mostly frame GOOGL as a benchmark AI and cloud leader rather than signaling a direct new catalyst.
• Negative Sentiment: TechCrunch reported that Google is expanding AI training to include more user-uploaded media by default unless users opt out, which could revive privacy concerns and regulatory scrutiny. TechCrunch article
• Negative Sentiment: BusinessInsider noted that Waymo faces growing competition in robotaxi usage from Zoox, reminding investors that Alphabet’s autonomous-driving efforts still face competitive pressure. BusinessInsider article

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.

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