Conning Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,032 shares of the information services provider's stock after selling 3,368 shares during the quarter. Conning Inc.'s holdings in Alphabet were worth $6,320,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after purchasing an additional 8,128,234 shares during the period. State Street Corp increased its holdings in Alphabet by 0.5% in the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider's stock valued at $58,712,878,000 after buying an additional 953,790 shares during the period. Auto Owners Insurance Co increased 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 acquiring an additional 179,369,280 shares during the last quarter. J. Stern & Co. LLP raised its holdings in shares of Alphabet by 28,482.8% during the 4th quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider's stock worth $35,174,429,000 after buying an additional 111,699,704 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider's stock worth $31,569,189,000 after acquiring an additional 1,073,151 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Zacks upgraded Alphabet (GOOG) to a Strong Buy, citing improving earnings expectations and bullish near-term sentiment. Alphabet (GOOG) Upgraded to Strong Buy: Here's What You Should Know
- Positive Sentiment: Analysts remain constructive on Alphabet’s AI and cloud outlook, with earnings preview articles pointing to Google Cloud and ad strength as potential drivers of another beat when results are reported on July 22. Google Stock Earnings Preview: Can Google Cloud Power Alphabet’s Next Earnings Beat?
- Positive Sentiment: Several reports framed Alphabet as a preferred AI and digital advertising name, noting resilient search traffic, strong ad monetization, and growing investor interest in its TPU and cloud strategy. Bet on 4 Cloud Computing Stocks to Hedge Against Volatile Markets
- Neutral Sentiment: Media coverage also pointed out that Alphabet is a trending stock and has recently outperformed the broader market, reflecting strong investor attention rather than a specific new catalyst. Alphabet Inc. (GOOG) Exceeds Market Returns: Some Facts to Consider
- Neutral Sentiment: Alphabet also drew favorable commentary from Jim Cramer and other market voices, who described Google’s long-term contract and AI position as compelling, but these were mostly opinion-based rather than new business updates. Jim Cramer Reveals Alphabet Inc. (GOOGL)’s “Best Contract in the World”
- Negative Sentiment: Regulatory pressure remains a headwind, with Google facing a new AI training lawsuit from publishers and separate scrutiny in Switzerland and Germany over Android search defaults and AI Overviews. Google faces another AI training lawsuit from major publishers
- Negative Sentiment: Concerns about data-center expansion and related costs also weighed on sentiment after New York imposed a moratorium on certain data centers, potentially affecting hyperscaler growth plans. AMZN, GOOGL, META: Hyperscalers Hit as New York State Imposes Moratorium on Data Centers
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GOOG. Oppenheimer increased their price target on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research note on Monday, June 22nd. Zacks Research upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. Finally, TD Cowen raised their price objective on Alphabet from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $378.53.
Check Out Our Latest Stock Report on GOOG
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 transaction of $153,432.28. Following the sale, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company'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 transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 159,415 shares of company stock worth $7,672,279. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
GOOG stock opened at $357.33 on Wednesday. The firm has a market cap of $4.33 trillion, a PE ratio of 27.26, a P/E/G ratio of 1.50 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $368.65 and a 200-day moving average of $335.92. Alphabet Inc. has a 12-month low of $181.50 and a 12-month high of $404.47.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analysts' expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 14.32 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were paid a $0.22 dividend. The ex-dividend date 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 0.2%. Alphabet's dividend payout ratio is 6.71%.
Alphabet Company Profile
(
Free Report)
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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