Carmel Capital Partners LLC Cuts Stake in Alphabet Inc. $GOOG

Key Points

• Carmel Capital Partners cut its Alphabet stake by 21.8% in the first quarter, selling 4,109 shares and leaving it with 14,707 shares worth about $4.2 million.
• Despite the trim from one investor, institutional ownership remains sizable, with hedge funds and other institutions holding about 27.26% of Alphabet’s stock.
• Wall Street remains broadly bullish on Alphabet: analysts currently have a Buy consensus rating, with an average price target of $378.53, while the company also recently raised its quarterly dividend to $0.22 per share.

Carmel Capital Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,707 shares of the information services provider's stock after selling 4,109 shares during the quarter. Alphabet makes up approximately 1.5% of Carmel Capital Partners LLC's portfolio, making the stock its 15th largest holding. Carmel Capital Partners LLC's holdings in Alphabet were worth $4,219,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Auto Owners Insurance Co lifted its stake in Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider's stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP grew its holdings in Alphabet by 28,482.8% during the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock valued at $35,174,429,000 after purchasing an additional 111,699,704 shares during the period. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth $18,093,665,000. Cardano Risk Management B.V. increased its position in Alphabet by 850.3% in the fourth quarter. Cardano Risk Management B.V. now owns 17,692,600 shares of the information services provider's stock worth $5,551,938,000 after buying an additional 15,830,754 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alphabet by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after buying an additional 8,128,234 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a research report on Thursday, April 30th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Wednesday, April 15th. Oppenheimer boosted their price objective on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Scotiabank reaffirmed an "outperform" rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, KeyCorp set a $445.00 target price on shares of Alphabet in a research report on Friday. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $378.53.

Insider Buying and Selling

In other news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,465 shares of company stock worth $8,020,511 in the last ninety days. 12.99% of the stock is currently owned by insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet received a fresh boost from analyst commentary and upgrades, including a Zacks Rank #1 (Strong Buy) and Bank of America’s view that Google search remains in an “expansionary moment,” which supports the case for continued earnings strength. Article: Alphabet (GOOG) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Reports highlighted continued user and traffic gains for Google, while new AI chip initiatives suggest Alphabet could expand its TPU business and strengthen its position in cloud AI infrastructure. Article: Google holds steady as Claude, Gemini surge in June user growth
• Positive Sentiment: Several articles framed Alphabet as a key AI beneficiary with custom chips, hyperscaler scale, and potential upside into its July 22 earnings report, which may be helping support the shares. Article: Google (GOOGL) Wants a Bigger Piece of Nvidia’s AI Chip Market – Here’s Its Plan
• Neutral Sentiment: Investors are also watching Alphabet closely because it is a heavily followed “trending stock,” with attention building ahead of earnings rather than on a single new fundamental catalyst. Article: Alphabet Inc. (GOOG) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Despite the bullish AI narrative, multiple reports point to a large and rising capex burden—analysts expect roughly $44.9 billion in Q2 capital spending—raising concerns that heavy AI investment could pressure near-term margins and cash flow. Article: Big Tech's Massive AI Spending Is Just Starting. Earnings Will Show It.
• Negative Sentiment: Alphabet also faces broader investor concern that its ad dominance could come under threat and that the market may be discounting the payoff from its spending surge until earnings confirm the growth story. Article: Alphabet's $1 Trillion Ad Dominance Is Facing New Threats

Alphabet Stock Down 1.2%

Shares of NASDAQ:GOOG opened at $350.67 on Tuesday. The firm has a fifty day moving average price of $369.19 and a two-hundred day moving average price of $335.63. The company has a market cap of $4.25 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.52 and a beta of 1.23. 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 Inc. has a one year low of $180.71 and a one year high of $404.47.

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

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend 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 (DPR) is presently 6.71%.

Alphabet 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.