Chronos Wealth Management LLC Sells 4,452 Shares of Alphabet Inc. $GOOG

Key Points

• Chronos Wealth Management reduced its Alphabet stake by 7.0% in Q1, selling 4,452 shares and leaving it with 59,018 shares worth about $16.93 million. Alphabet remains the firm’s second-largest holding, accounting for 8.2% of its portfolio.
• Alphabet recently reported better-than-expected quarterly results, with EPS of $5.11 versus a $2.68 estimate and revenue of $109.9 billion, up 21.8% year over year. The company also increased its quarterly dividend to $0.22 per share from $0.21.
• Wall Street remains broadly positive on GOOG, with a consensus Buy rating and average price target of $376.78. At the same time, the article notes ongoing investor concern around AI talent departures and competitive pressures in Google’s AI efforts.

Chronos Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,018 shares of the information services provider's stock after selling 4,452 shares during the quarter. Alphabet accounts for 8.2% of Chronos Wealth Management LLC's portfolio, making the stock its 2nd largest position. Chronos Wealth Management LLC's holdings in Alphabet were worth $16,930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Imprint Wealth LLC bought a new stake in Alphabet in the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Alphabet during the 4th quarter worth about $38,000. Lifetime Wealth Management P.C. bought a new position in shares of Alphabet during the 4th quarter worth about $38,000. Bard Associates Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $41,000. Finally, Towne Trust Company N.A boosted its position in shares of Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock valued at $42,000 after acquiring an additional 34 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 617 shares of Alphabet stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 151,523 shares of company stock worth $4,863,526. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial set a $430.00 target price on shares of Alphabet in a research note on Monday, June 1st. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Freedom Capital lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Needham & Company LLC set a $400.00 target price on Alphabet and gave the stock a "buy" rating in a report on Friday, March 13th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $376.78.

Alphabet Stock Up 0.0%

GOOG opened at $334.71 on Monday. The firm's 50-day simple moving average is $366.33 and its 200-day simple moving average is $332.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a twelve month low of $172.71 and a twelve month high of $404.47. The firm has a market cap of $4.06 trillion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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 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 the consensus estimate of $106.96 billion. During the same period last year, the firm posted $2.81 EPS. The firm's quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 14.3 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 issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 6.71%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s advertising business is still growing, with one analyst note pointing to rising ad revenues and AI-driven ad tools as a source of further upside. Alphabet Benefits From Rising Advertising Revenues: More Upside Ahead?
• Positive Sentiment: Wedbush said the recent sell-off in big tech and AI names looks more like a buying opportunity than a broken AI thesis, and included Alphabet among the core beneficiaries of the AI trend. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: Alphabet continues to get bullish long-term commentary from investors who see it as a strong growth and AI compounder, helped by Google Cloud momentum and AI monetization potential. Alphabet: Still A Top-Tier AI Compounder
• Neutral Sentiment: Alphabet is set to join the Dow Jones Industrial Average, which is a notable index inclusion but not an immediate fundamental catalyst. Alphabet Set to Join Dow Jones Industrial Average as Verizon Exits Index (GOOG)
• Neutral Sentiment: A new bill would study data-center energy and water measurement standards, which could eventually affect Alphabet’s cloud and AI infrastructure, but it does not create immediate regulation. New Bill: Representative Suhas Subramanyam introduces H.R. 9372: Data Infrastructure Energy Measurement and Standards Act
• Negative Sentiment: Investor concern is centered on Google’s AI talent exodus, with reports of more researchers leaving for rivals like Anthropic, raising worries about execution in Gemini and broader AI competitiveness. Alphabet Shares Fall After Report on Further AI Talent Departures
• Negative Sentiment: A separate report said Google is taking a tougher stance with publishers to secure broader content access for AI training, while publishers warn that traffic declines are already hurting them, adding to regulatory and relationship risk. Google looks to bleed publishers with new AI partnerships that would cull their content
• Negative Sentiment: Several articles this week continued to highlight weakness in the “all-in on AI” trade and pressure on Alphabet shares tied to AI talent losses and competitive fears. Ranking the FAANG Stocks From Most to Least Attractive, Based on Future Cash Flow

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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