Capelight Capital Asset Management LP Sells 15,000 Shares of Alphabet Inc. $GOOG

Key Points

• Capelight Capital Asset Management cut its Alphabet stake by 60% in the first quarter, selling 15,000 shares and leaving it with 10,000 shares worth about $2.87 million.
• Several other institutional investors also adjusted GOOG holdings, while overall hedge fund and institutional ownership of Alphabet stands at 27.26%.
• Alphabet reported strong quarterly results, beating EPS and revenue estimates, and analysts remain broadly bullish with a Buy consensus and a price target of $376.19.

Capelight Capital Asset Management LP trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 60.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the information services provider's stock after selling 15,000 shares during the period. Alphabet accounts for approximately 2.0% of Capelight Capital Asset Management LP's holdings, making the stock its 19th largest position. Capelight Capital Asset Management LP's holdings in Alphabet were worth $2,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Ring Mountain Capital LLC grew its holdings in Alphabet by 0.9% during the fourth quarter. Ring Mountain Capital LLC now owns 3,554 shares of the information services provider's stock valued at $1,174,000 after purchasing an additional 30 shares during the period. Cannon Financial Strategists Inc. raised its stake in shares of Alphabet by 1.9% in the fourth quarter. Cannon Financial Strategists Inc. now owns 1,589 shares of the information services provider's stock worth $499,000 after buying an additional 30 shares during the period. Financial Enhancement Group LLC raised its stake in shares of Alphabet by 2.3% in the first quarter. Financial Enhancement Group LLC now owns 1,323 shares of the information services provider's stock worth $380,000 after buying an additional 30 shares during the period. HRC Wealth Management LLC lifted its position in shares of Alphabet by 1.0% during the 4th quarter. HRC Wealth Management LLC now owns 3,231 shares of the information services provider's stock valued at $1,014,000 after buying an additional 31 shares in the last quarter. Finally, Certior Financial Group LLC lifted its position in shares of Alphabet by 3.5% during the 4th quarter. Certior Financial Group LLC now owns 919 shares of the information services provider's stock valued at $288,000 after buying an additional 31 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet-backed Anthropic is reportedly nearing a possible IPO, which could highlight the value of Alphabet’s ownership stake and strengthen investor enthusiasm around its AI investments. Anthropic Could Be a $1 Trillion IPO This Fall. These 2 Stocks Already Own a Piece.
• Positive Sentiment: Google Cloud and enterprise AI positioning received another boost as Anthropic expanded support for Google Cloud tools, reinforcing Alphabet’s role in AI infrastructure. Anthropic Strengthens Alphabet Inc. (GOOGL)’s Google Cloud Positioning in Enterprise AI Development
• Positive Sentiment: Alphabet is continuing to launch new AI models, including Gemini Omni Flash and Nano Banana 2 Lite, which could support product adoption and future revenue growth. Google Just Launched 2 New AI Models. What That Means for GOOGL Stock.
• Positive Sentiment: Alphabet was named a “final trade” on CNBC by an investor, adding to recent bullish sentiment from commentators. Netflix, Alphabet, Nike And A Consumer Defensive Stock On CNBC's ‘Final Trades'
• Neutral Sentiment: Google invested in Proxima Fusion’s €411 million funding round, signaling interest in long-term frontier tech, but the near-term financial impact on Alphabet is limited. Google, RWE back Proxima Fusion in €411 million financing round
• Negative Sentiment: Google’s expanded AI data collection and training policies may raise privacy concerns, which could create regulatory or reputational risk for the stock. If you use Google, you're training its AI. Here's how to opt out.
• Negative Sentiment: Reports that some Google employees are leaving for AI rivals suggest competitive pressure in the talent market, even as Alphabet remains a top tech employer. Google's status as the dream tech job is changing. FOMO over AI salaries is only one reason why.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 112 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the transaction, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider directly owned 75,290 shares of the company's stock, valued at $26,298,044.10. The trade was a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 160,465 shares of company stock worth $8,020,511. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. boosted their price objective on Alphabet from $395.00 to $460.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 price target on shares of Alphabet in a report on Thursday, May 21st. Raymond James Financial reiterated a "strong-buy" rating and issued a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer upped 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. Finally, KeyCorp reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $376.19.

Alphabet Stock Performance

NASDAQ GOOG opened at $364.90 on Tuesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $173.88 and a twelve month high of $404.47. The business has a 50-day moving average price of $368.31 and a 200-day moving average price of $333.49. The firm has a market cap of $4.42 trillion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This is an increase 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 dividend on an annualized basis and a yield of 0.2%. Alphabet's payout ratio is 6.71%.

Alphabet Company Profile

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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