Alphabet Inc. $GOOGL is BTC Capital Management Inc.'s 4th Largest Position

Key Points

• BTC Capital Management increased its Alphabet stake by 29.9% in the first quarter, bringing its position to 198,300 shares worth about $57.0 million. Alphabet is now the firm’s 4th-largest holding.
• Alphabet has been getting mostly positive Wall Street attention, with several firms reiterating or issuing Buy/Outperform ratings. The stock currently carries a consensus Moderate Buy rating and an average price target of $413.13.
• The stock has also been supported by recent news, including Dow Jones Industrial Average inclusion and a recent earnings beat, while insider sales and AI-capacity concerns remain points of caution. Alphabet recently reported $5.11 EPS on $109.9 billion in revenue and raised its quarterly dividend to $0.22 per share.

BTC Capital Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,300 shares of the information services provider's stock after acquiring an additional 45,648 shares during the period. Alphabet accounts for approximately 3.9% of BTC Capital Management Inc.'s holdings, making the stock its 4th biggest holding. BTC Capital Management Inc.'s holdings in Alphabet were worth $57,035,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Sanford C. Bernstein reiterated a "market perform" rating and set a $390.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Royal Bank Of Canada set a $425.00 target price on Alphabet and gave the company an "outperform" rating in a research note on Thursday, April 30th. Citigroup restated an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Wolfe Research reduced their price target on Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research note on Friday, April 10th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $515.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $413.13.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet officially joined the Dow Jones Industrial Average, replacing Verizon, which has sparked broad investor buying and index-fund demand. Reuters: Alphabet debuts in Dow Jones Industrial Average as index tilts toward tech
• Positive Sentiment: Several reports note Alphabet’s stock rose on the Dow debut, reflecting renewed investor enthusiasm and momentum around the company’s large-cap tech and AI position. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions
• Positive Sentiment: Jefferies reiterated a Buy rating on Alphabet with a $445 price target, suggesting Wall Street still sees meaningful upside despite the recent pullback. Yahoo Finance: Jefferies Maintain a Buy Rating on Alphabet (GOOGL)
• Neutral Sentiment: Alphabet also gained attention from fresh coverage highlighting its cloud and AI partnerships, including Google Cloud’s collaboration with the Philippine government on AI agents for public services. Yahoo Finance: Alphabet’s Google Cloud Partners with Philippine Government to Deploy AI Agents in Public Services
• Neutral Sentiment: Investors are also weighing concerns that strong AI demand is being constrained by limited compute capacity, which may cap near-term growth even as demand remains high. Reuters: Google limits Meta's use of its Gemini AI models, FT reports
• Negative Sentiment: Some articles point out that Alphabet has been under pressure recently due to AI-spending concerns and broader weakness in big tech, so the Dow inclusion may be helping offset a weak monthly trend. CNBC: Alphabet stock pops 4% on Dow debut, but the tech giant faces major AI questions

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,050 shares of the company'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 value of $387,061.50. Following the transaction, the director owned 1,481 shares in the company, valued at approximately $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 102 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the transaction, the director owned 18,721 shares in the company, valued at approximately $7,132,701. This represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 151,972 shares of company stock valued at $5,016,958. 11.61% of the stock is owned by company insiders.

Alphabet Trading Up 4.8%

Alphabet stock opened at $353.55 on Tuesday. Alphabet Inc. has a 12 month low of $172.77 and a 12 month high of $408.61. The company has a market capitalization of $4.28 trillion, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The business's fifty day simple moving average is $369.30 and its two-hundred day simple moving average is $333.27. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

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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