Alphabet Inc. $GOOGL Shares Sold by Nixon Peabody Trust Co.

Key Points

• Nixon Peabody Trust Co. reduced its Alphabet stake by 9.6% in the first quarter, selling 10,528 shares and leaving it with 99,289 shares worth about $28.6 million.
• Other large institutions mostly added to Alphabet, including Vanguard, State Street, and Geode, while institutional investors and hedge funds collectively own about 40.03% of the stock.
• Alphabet reported better-than-expected quarterly results, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion, and it recently raised its quarterly dividend to $0.22 per share.

Nixon Peabody Trust Co. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,289 shares of the information services provider's stock after selling 10,528 shares during the quarter. Alphabet accounts for 2.3% of Nixon Peabody Trust Co.'s investment portfolio, making the stock its 11th largest position. Nixon Peabody Trust Co.'s holdings in Alphabet were worth $28,552,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOGL. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares in the last quarter. State Street Corp lifted its holdings in Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock valued at $45,625,595,000 after purchasing an additional 2,666,676 shares during the period. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at about $30,534,239,000. Finally, Bank of America Corp DE grew its position in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider's stock valued at $21,630,861,000 after purchasing an additional 3,218,852 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Rosenblatt Securities restated a "neutral" rating and set a $393.00 price target on shares of Alphabet in a research report on Thursday, May 21st. HSBC reiterated a "buy" rating and issued a $420.00 price objective (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. Citigroup reiterated an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Wall Street Zen upgraded Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company lowered their price target on Alphabet from $435.00 to $416.00 and set an "overweight" rating on the stock in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $413.92.

Alphabet Stock Performance

Shares of GOOGL stock opened at $357.18 on Monday. The company's 50-day moving average price is $372.61 and its 200-day moving average price is $336.63. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.33 trillion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.53 and a beta of 1.24. Alphabet Inc. has a twelve month low of $176.48 and a twelve month high of $408.61.

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 (EPS) for the quarter, topping 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 firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. As a group, equities analysts predict that Alphabet Inc. will post 14.32 earnings per share for the current year.

Alphabet Increases Dividend

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

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,465 shares of company stock worth $8,020,511. Insiders own 11.61% of the company's stock.

Key Alphabet News

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.

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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