Cottage Street Advisors LLC Has $9.23 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Cottage Street Advisors cut its Alphabet stake by 9.3% in the first quarter, selling 3,314 shares and leaving it with 32,168 shares valued at about $9.23 million.
• Wall Street remains broadly bullish on GOOG, with several firms reiterating buy ratings and raising targets; the consensus price target is $376.78, above the stock’s recent trading level.
• Alphabet’s business fundamentals were strong in the latest quarter, as it beat earnings and revenue estimates and boosted its dividend to $0.22 per share quarterly, though investors are watching AI talent losses and competitive pressures.

Cottage Street Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,168 shares of the information services provider's stock after selling 3,314 shares during the quarter. Alphabet makes up 4.0% of Cottage Street Advisors LLC's holdings, making the stock its 4th largest position. Cottage Street Advisors LLC's holdings in Alphabet were worth $9,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Key Stories Impacting Alphabet

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

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. The Goldman Sachs Group reaffirmed a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Raymond James Financial restated a "strong-buy" rating and set a $425.00 price target on shares of Alphabet in a research note on Thursday, April 30th. KeyCorp reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, May 20th. TD Cowen lifted their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus set a $420.00 price objective on shares of Alphabet in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Buy" and a consensus price target of $376.78.

Alphabet Trading Up 0.0%

Alphabet stock opened at $334.71 on Monday. 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 52 week low of $172.71 and a 52 week high of $404.47. The company has a market capitalization of $4.06 trillion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The stock has a 50-day moving average price of $366.33 and a 200 day moving average price of $332.06.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter in the prior year, the firm earned $2.81 earnings per share. Alphabet's revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a 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%.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares in the company, valued at $2,923,235.59. The trade was a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,523 shares of company stock valued at $4,863,526 over the last quarter. Insiders own 12.99% of the company's stock.

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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