Citizens Financial Group Inc. RI Cuts Stock Position in Alphabet Inc. $GOOG

Key Points

• Citizens Financial Group reduced its Alphabet stake by 10.7% in the first quarter, selling 29,864 shares and leaving it with 249,454 shares valued at about $71.6 million.
• Wall Street sentiment remains positive, with Alphabet carrying a consensus “Buy” rating and an average price target of $378.53; several firms recently raised targets, including TD Cowen and JPMorgan.
• Alphabet’s fundamentals and outlook remain strong, as the company beat quarterly earnings and revenue estimates, raised its dividend slightly, and continues to draw attention for AI and cloud growth even as regulatory risks in Europe and Switzerland persist.

Citizens Financial Group Inc. RI decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,454 shares of the information services provider's stock after selling 29,864 shares during the quarter. Alphabet accounts for about 1.0% of Citizens Financial Group Inc. RI's holdings, making the stock its 20th biggest holding. Citizens Financial Group Inc. RI's holdings in Alphabet were worth $71,558,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its stake in Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider's stock valued at $9,381,000 after purchasing an additional 2,341 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of Alphabet by 1.0% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider's stock valued at $86,596,000 after buying an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Alphabet by 7.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider's stock valued at $19,060,000 after buying an additional 4,239 shares during the period. World Investment Advisors grew its position in shares of Alphabet by 8.7% during the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider's stock valued at $59,827,000 after buying an additional 15,280 shares during the last quarter. Finally, Violich Capital Management Inc. grew its position in shares of Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider's stock valued at $106,936,000 after buying an additional 3,378 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOG shares. TD Cowen increased their price target on Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. 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 report on Thursday, April 30th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Finally, KeyCorp set a $445.00 target price on Alphabet in a research note on Friday, July 10th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $378.53.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Warren Buffett said he personally initiated Berkshire Hathaway’s purchase of Alphabet, giving the stock a high-profile vote of confidence and reinforcing the view that GOOG remains attractive ahead of earnings. Warren Buffett tells CNBC he initiated Berkshire Hathaway's investment in Alphabet
• Positive Sentiment: Several analysts and market articles said Alphabet’s AI-driven search, cloud growth, and improving earnings outlook could support another results beat, keeping investor sentiment constructive. Alphabet Inc. (GOOG) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Positive Sentiment: Alphabet’s large clean-power purchase and ongoing AI infrastructure investment signal continued support for long-term cloud and AI expansion, which investors may view as a strength. Google's biggest clean power project is 40 miles north of xAI's unpermitted gas power plant
• Neutral Sentiment: Alphabet continues to receive favorable brokerage and valuation commentary, with some coverage highlighting strong AI monetization but noting the stock is already pricing in a lot of optimism. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Negative Sentiment: The EU is preparing new fines against Google, adding to regulatory overhang and reminding investors that antitrust risk remains a key issue for the stock. EU Prepares to Fine Google as Part of Increased Big Tech Enforcement
• Negative Sentiment: Google also faced fresh scrutiny from Swiss regulators and new AI-related criticism and lawsuits, which could pressure sentiment around its core search and AI businesses. Google probed by Swiss regulator over Android default search feature

Alphabet Price Performance

NASDAQ GOOG opened at $370.21 on Thursday. Alphabet Inc. has a 12 month low of $181.50 and a 12 month high of $404.47. The firm has a market capitalization of $4.49 trillion, a PE ratio of 28.24, a P/E/G ratio of 1.53 and a beta of 1.23. The company's 50 day simple moving average is $368.14 and its 200 day simple moving average is $336.31. 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:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share 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 business had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the prior year, the firm posted $2.81 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet's payout ratio is 6.71%.

Insider Buying and Selling at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the company's 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 $9,345,358.56. This represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 112 shares of the company's stock in a transaction that occurred 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last three months. 12.99% of the stock is owned by insiders.

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.

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