Associated Banc Corp Has $187.74 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Associated Banc Corp cut its Alphabet stake by 5% in Q1, but Alphabet remains its largest holding at 652,877 shares worth about $187.7 million.
• Alphabet reported strong quarterly results, with EPS of $5.11 versus $2.64 expected and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.
• Investors remain focused on Alphabet’s AI push, including reports of a new AI server chip and new Gemini models, even as some headlines point to a delayed Gemini model and concerns about heavy AI spending.

Associated Banc Corp trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 652,877 shares of the information services provider's stock after selling 34,719 shares during the period. Alphabet makes up approximately 5.0% of Associated Banc Corp's investment portfolio, making the stock its largest holding. Associated Banc Corp's holdings in Alphabet were worth $187,741,000 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. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in Alphabet by 17.6% during the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock valued at $685,000 after buying an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock valued at $85,557,000 after buying an additional 48,805 shares in the last quarter. Finally, United Bank grew its holdings in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after acquiring an additional 3,120 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $347.15 on Wednesday. Alphabet Inc. has a one year low of $187.46 and a one year high of $408.61. The company has a 50-day moving average of $367.35 and a two-hundred day moving average of $338.65. The stock has a market cap of $4.21 trillion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.46 and a beta of 1.24. 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 released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities research analysts expect that Alphabet Inc. will post 14.33 earnings per share for the current 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 given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is presently 6.71%.

Insider Activity at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares of the company's stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 159,415 shares of company stock worth $7,672,279. Insiders own 11.61% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reportedly developed a new AI server chip, “Frozen v2,” to make Gemini run more efficiently, which could improve margins and help ease compute constraints for Google Cloud. Reuters: Google plans new chip to run Gemini models more efficiently
• Positive Sentiment: Google released new Gemini models, including cheaper and more efficient versions, signaling continued AI product momentum ahead of earnings. TechCrunch: Google releases three new Gemini models
• Positive Sentiment: Analysts and market commentary remain constructive on Alphabet going into Q2 results, with expectations that Search and Google Cloud can still deliver strong growth. Yahoo Finance: Alphabet Q2 Earnings Preview
• Neutral Sentiment: Alphabet’s earnings report on Wednesday is expected to be a major market test for AI spending, cloud growth, and capital expenditure discipline. Invezz: What to expect from Alphabet's Q2 earnings
• Neutral Sentiment: Alphabet is also facing a cluster of securities-fraud investigation headlines, though these are largely legal overhangs at this stage rather than new operational news. PR Newswire: Securities fraud investigation continues
• Negative Sentiment: Reuters reported that a flagship Gemini model remains delayed, adding to investor worries that heavy AI spending may not translate into results quickly enough. Reuters: Alphabet's Gemini delay, spending worries loom over earnings

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $438.00 price target (up from $416.00) on shares of Alphabet in a report on Tuesday. Rothschild & Co Redburn lifted their price objective on shares of Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. HSBC reiterated a "buy" rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a report on Tuesday, June 2nd. UBS Group reissued a "neutral" rating and set a $400.00 target price (down from $410.00) on shares of Alphabet in a research note on Monday, July 13th. Finally, Mizuho raised their target price on shares of Alphabet from $420.00 to $460.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $414.54.

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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