Alphabet Inc. $GOOGL is Keybank National Association OH's 6th Largest Position

Key Points

• Keybank National Association OH trimmed its Alphabet stake by 0.7% in the first quarter but still held 3.03 million shares worth about $871.96 million, making Alphabet its 6th largest position.
• Alphabet’s latest quarterly results beat expectations, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion versus $106.98 billion estimated, reinforcing strong operating performance.
• Analysts remain constructive on the stock, with several firms raising price targets and MarketBeat data showing an average rating of Moderate Buy and an average target price of $413.92.

Keybank National Association OH lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,032,274 shares of the information services provider's stock after selling 21,693 shares during the period. Alphabet makes up 3.2% of Keybank National Association OH's investment portfolio, making the stock its 6th largest holding. Keybank National Association OH's holdings in Alphabet were worth $871,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Alphabet during the 3rd quarter worth about $416,217,000. NewEdge Wealth LLC raised its position in shares of Alphabet by 11.8% in the fourth quarter. NewEdge Wealth LLC now owns 887,209 shares of the information services provider's stock valued at $277,696,000 after buying an additional 93,293 shares during the last quarter. World Investment Advisors raised its position in shares of Alphabet by 9.2% in the fourth quarter. World Investment Advisors now owns 274,761 shares of the information services provider's stock valued at $86,000,000 after buying an additional 23,107 shares during the last quarter. Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $28,902,000. Finally, Berkshire Hathaway Inc purchased a new position in shares of Alphabet during the third quarter valued at approximately $4,338,397,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $357.18 on Friday. The firm has a fifty day moving average of $372.61 and a 200-day moving average of $336.44. Alphabet Inc. has a 52-week low of $176.48 and a 52-week high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.33 trillion, a P/E ratio of 27.24, a PEG ratio of 1.53 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating 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 analyst estimates of $106.98 billion. As a group, analysts predict that Alphabet Inc. will post 14.32 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's dividend payout ratio is 6.71%.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the sale, the director owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,465 shares of company stock valued at $8,020,511 over the last 90 days. Corporate insiders own 11.61% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: KeyCorp raised its price target on Alphabet to $445 from $425 and kept an overweight rating, reinforcing the view that the stock still has meaningful upside from current levels.
• Positive Sentiment: Multiple upbeat articles highlighted Alphabet as a leading AI and cloud beneficiary, with commentary pointing to strong distribution through Search, Android, YouTube, Google Cloud, and chips as reasons it could monetize AI better than peers.
• Positive Sentiment: New coverage argued Alphabet looks undervalued after a big run over the past year, while other pieces said the company remains one of the most attractive megacap tech names on a risk/reward basis.
• Positive Sentiment: Zacks and other market commentators continued to include GOOGL among cloud and internet stocks positioned to benefit from AI-driven data center spending and digital demand growth.
• Positive Sentiment: Business and tech commentary also pointed to product and platform strengths, including Google Search setting records during the World Cup and Waymo planning more driverless-car expansion, which support the long-term growth narrative.
• Neutral Sentiment: Alphabet said it will begin disclosing which ads are generated with AI, a transparency move that may help trust and compliance but is unlikely to materially change near-term earnings.
• Neutral Sentiment: Britain moved to regulate Google as a critical cloud supplier to protect financial stability; the change adds oversight, but it also underscores the importance of Google Cloud rather than signaling a fundamental business setback.
• Neutral Sentiment: Reuters reported that Google is appealing an Indian ads-related trademark ruling, a legal issue that could create some noise but does not yet appear to be a major stock-moving event.
• Neutral Sentiment: Recent short-interest data was effectively flat at zero shares reported, offering little actionable signal for traders.
• Negative Sentiment: One Reuters-linked report said Google and OpenAI provided AI services to Singapore-based subsidiaries of Chinese groups on the Pentagon blacklist, which could raise regulatory scrutiny and geopolitical concerns.
• Negative Sentiment: Technical commentary noted Alphabet is testing a key resistance zone after a recovery, suggesting the stock may need a fresh catalyst to extend its move higher.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Phillip Securities boosted their price target on Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a report on Wednesday, April 15th. BMO Capital Markets lifted their price objective on Alphabet from $410.00 to $435.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Dbs Bank upped their target price on Alphabet from $400.00 to $460.00 in a research note on Thursday, May 7th. Susquehanna reiterated a "positive" rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $413.92.

About Alphabet

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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