Alphabet Inc. $GOOGL Shares Sold by Cornerstone Wealth Group LLC

Key Points

• Cornerstone Wealth Group LLC reduced its Alphabet stake by 9.8% in the first quarter, selling 9,436 shares and leaving it with 87,322 shares worth about $25.1 million.
• Alphabet delivered strong quarterly results, posting $5.11 EPS versus expectations of $2.64 and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.
• Wall Street remains broadly positive on GOOGL, with analysts maintaining mostly Buy ratings and a consensus price target of $413.54, even as regulatory risks persist from the EU’s upheld Android antitrust fine and a separate Swedish court ruling.

Cornerstone Wealth Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,322 shares of the information services provider's stock after selling 9,436 shares during the period. Alphabet makes up approximately 1.6% of Cornerstone Wealth Group LLC's investment portfolio, making the stock its 11th largest holding. Cornerstone Wealth Group LLC's holdings in Alphabet were worth $25,110,000 as of its most recent filing with the SEC.

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

Alphabet Price Performance

NASDAQ GOOGL opened at $359.91 on Friday. The stock 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 business's fifty day moving average is $371.05 and its two-hundred day moving average is $334.41. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The business 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%. On average, research analysts forecast that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOGL shares. Rothschild & Co Redburn boosted their target price on Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Bank of America increased their price target on Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. HSBC reiterated a "buy" rating and set a $420.00 price target (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Evercore boosted their price objective on Alphabet from $400.00 to $420.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Finally, Robert W. Baird upped their price objective on Alphabet from $380.00 to $400.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $413.54.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the sale, the director directly owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,465 shares of company stock valued at $8,020,511 over the last 90 days. 11.61% of the stock is owned by insiders.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Several recent stories highlight Alphabet’s AI and cloud momentum, including Google Cloud traction with enterprise customers like Jack Henry and growing use of Google’s cloud tech by Italy’s Intesa Sanpaolo, which supports the bull case for future growth. Article Title
• Positive Sentiment: Jim Cramer argued that Alphabet still looks cheap, reinforcing a valuation-supportive narrative for GOOGL after its pullback. Article Title
• Positive Sentiment: Wall Street sentiment remains constructive, with Wells Fargo keeping an overweight rating and multiple analysts maintaining buy recommendations, which may help support the stock. Article Title
• Neutral Sentiment: Alphabet’s insider selling by John Kent Walker appears routine and is not, by itself, a major fundamental concern for investors. Article Title
• Neutral Sentiment: Coverage around Alphabet’s growing role in AI-powered shopping, robotaxis, and other ecosystem developments adds to the long-term story, but these are more thesis-supportive than immediate catalysts. Article Title
• Negative Sentiment: The biggest drag is the EU Supreme Court decision upholding Alphabet’s €4.1 billion Android antitrust fine, which reinforces legal and regulatory overhangs for the stock. Article Title
• Negative Sentiment: A separate Swedish court ruling ordered Alphabet to pay nearly $2 billion in a price-comparison dispute, adding to the sense that antitrust and competition risks remain active. Article Title

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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