Busey Bank Lowers Stake in Alphabet Inc. $GOOG

Key Points

• Busey Bank cut its Alphabet stake by 6.1% in the first quarter, selling 35,727 shares and leaving it with 552,579 shares valued at about $158.5 million. Alphabet remains Busey Bank’s fourth-largest holding, making up 4.3% of its portfolio.
• Alphabet insiders have been selling shares, including John Kent Walker and director Frances Arnold, with insiders selling 160,465 shares worth about $8.0 million over the past 90 days. Despite that, company insiders still own 12.99% of the stock.
• Wall Street remains broadly bullish on GOOG, with analysts giving it an average “Buy” rating and a consensus price target of $376.19. The company also posted strong recent results, beating EPS and revenue expectations, and raised its quarterly dividend to $0.22 per share.

Busey Bank lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 552,579 shares of the information services provider's stock after selling 35,727 shares during the period. Alphabet makes up 4.3% of Busey Bank's portfolio, making the stock its 4th biggest position. Busey Bank's holdings in Alphabet were worth $158,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC raised its position in shares of Alphabet by 8.5% in the 4th quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after acquiring an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its holdings in Alphabet by 1.0% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock valued at $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after purchasing an additional 4,239 shares during the period. World Investment Advisors increased its stake in Alphabet by 8.7% in the fourth quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after purchasing an additional 15,280 shares in the last quarter. Finally, Steginsky Capital LLC increased its stake in Alphabet by 1.0% in the third quarter. Steginsky Capital LLC now owns 680,588 shares of the information services provider's stock valued at $165,757,000 after purchasing an additional 6,523 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% 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 hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,465 shares of company stock valued at $8,020,511 over the last ninety days. Company insiders own 12.99% of the company's stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Analysts and market commentators highlighted Alphabet’s AI advantage, arguing that its control of Search, Android, YouTube, Google Cloud and its chip/model stack gives it one of the best paths to monetize AI at scale. Alphabet vs. Meta: Which AI Stock Is the Better Buy Right Now?
• Positive Sentiment: Google Cloud-related partnerships remain a tailwind, including Accenture’s launch of agentic AI solutions built with Alphabet’s Google Cloud for mid-market firms, reinforcing demand for its enterprise AI offerings. Accenture and Alphabet (GOOGL) Launch Agentic AI Solutions for Mid-Market Firms
• Positive Sentiment: Alphabet’s strong quarterly results and cloud growth continue to drive bullish takes, with investors pointing to revenue growth, AI spending efficiency, and improving profitability as reasons the stock could outperform. Alphabet Stock: Locking In Long-Term Rule Of 40 Supremacy

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Citigroup restated a "market outperform" rating on shares of Alphabet in a research report on Monday, June 22nd. Truist Financial set a $430.00 price objective on Alphabet in a research note on Monday, June 1st. JPMorgan Chase & Co. raised their price objective on Alphabet from $395.00 to $460.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Buy" and a consensus target price of $376.19.

Alphabet Trading Down 0.7%

GOOG opened at $356.24 on Friday. The stock has a market capitalization of $4.32 trillion, a P/E ratio of 27.17, a P/E/G ratio of 1.53 and a beta of 1.23. Alphabet Inc. has a 12 month low of $175.74 and a 12 month high of $404.47. The firm's fifty day simple moving average is $369.66 and its 200 day simple moving average is $335.08. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.96 billion. During the same quarter in the prior year, the company earned $2.81 EPS. The company's revenue was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a dividend of $0.22 per share. This is an increase 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 payout ratio is currently 6.71%.

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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