Alphabet Inc. $GOOGL Position Lowered by Northeast Investment Management

Key Points

• Northeast Investment Management cut its Alphabet stake by 5.5% in the first quarter, selling 28,837 shares and leaving it with 490,866 shares worth about $141.2 million.
• Alphabet’s latest earnings beat expectations, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion versus $106.98 billion forecast. Analysts still see upside, with a consensus rating of Moderate Buy and a target price of about $413.54.
• The stock continues to face a mix of positive AI/cloud momentum and regulatory pressure: Google Cloud is gaining enterprise traction, but the EU antitrust fine and a Swedish court ruling add to Alphabet’s legal overhang.

Northeast Investment Management decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 490,866 shares of the information services provider's stock after selling 28,837 shares during the quarter. Alphabet accounts for approximately 5.8% of Northeast Investment Management's holdings, making the stock its 3rd biggest position. Northeast Investment Management's holdings in Alphabet were worth $141,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. EMC Capital Management purchased a new stake in Alphabet in the fourth quarter worth approximately $33,000. PMV Capital Advisers LLC purchased a new stake in Alphabet in the fourth quarter worth approximately $38,000. IFC & Insurance Marketing Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $38,000. Finally, Bard Associates Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $52,000. Institutional investors own 40.03% of the company's stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud is gaining traction in enterprise AI and banking, with new wins like Jack Henry and Intesa Sanpaolo supporting Alphabet’s cloud growth story. GOOGL's AI Cloud Strategy Gets a Boost From Jack Henry: What's Ahead?
• Positive Sentiment: Analysts and market commentary continue to frame Alphabet as a strong growth and momentum stock, reflecting confidence in earnings and AI-driven upside. Here's Why Alphabet (GOOGL) is a Strong Momentum Stock
• Positive Sentiment: Google’s disruption of a proxy network used in malware operations supports its security reputation and could modestly lift sentiment around the platform. Google disrupts NetNut proxy network used in malware operations
• Positive Sentiment: Commentary around AI shopping and agentic commerce suggests Alphabet’s Gemini ecosystem could become a larger long-term growth catalyst. Agentic Shopping Is Coming. These Stocks Will Ride Walmart's Google AI Bet.
• Neutral Sentiment: Small insider sales by Alphabet executives and directors appear routine and do not by themselves change the stock’s outlook. Alphabet NASDAQ: GOOGL Insider John Kent Walker Sells 8,998 Shares
• Negative Sentiment: The EU court upheld a huge Android antitrust fine, extending Alphabet’s regulatory overhang and keeping legal risk in focus. EU top court dismisses Google fight against record €4.1 billion EU antitrust fine
• Negative Sentiment: Swedish court damages in the comparison-shopping case add another sign that regulators are willing to punish Google’s search and shopping practices. Swedish court orders Google pay $1.46 bn for favoring its price comparisons

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $359.91 on Friday. The company has a market capitalization of $4.36 trillion, a P/E ratio of 27.45, a P/E/G ratio of 1.54 and a beta of 1.24. Alphabet Inc. has a 1-year low of $172.77 and a 1-year high of $408.61. The firm's 50 day simple moving average is $370.64 and its two-hundred day simple moving average is $334.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Research analysts expect that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's payout ratio is currently 6.71%.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the 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 completion of the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 160,465 shares of company stock worth $8,020,511 in the last three months. 11.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Alphabet in a report on Wednesday, June 3rd. HSBC reiterated a "buy" rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, BMO Capital Markets raised their price objective on shares of Alphabet from $410.00 to $435.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. 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, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $413.54.

Alphabet Company 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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